The report states that Bitcoin’s network is strengthening as more people adopt the cryptocurrency and as the infrastructure supporting it improves.
ARK Invest predicts that institutional investment will drive demand for Bitcoin, which will in turn drive up its price.
In the report, ARK Invest notes that Bitcoin’s price volatility has been reducing in recent years, which could make it a more attractive investment option for institutions.
Additionally, the firm points out that Bitcoin’s scarcity, with only 21 million coins to be mined, adds to its value proposition.
Another factor that ARK Invest believes will contribute to Bitcoin’s rising price is the growing acceptance of the cryptocurrency as a form of payment.
The firm predicts that more and more businesses will start accepting Bitcoin as a payment method, and that this trend will only increase in the coming years.
In conclusion, ARK Invest is bullish on Bitcoin and believes that its price could exceed $1 million in the coming years.
The firm predicts that the cryptocurrency will continue to gain traction as more people adopt it, and that its unique features and growing acceptance as a form of payment will drive its price higher.
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