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Bitcoin to be worth a million dollars by 2030? And will Ethereum market cap pass $20 trillion

According to Cathy Woods’ Ark Invest, Ether (ETH) will reach or perhaps surpass a $20 trillion market capitalization over the next ten years, equating to a price of about $170,000–$180,000 per ETH.

The research also forecasted huge things for Bitcoin (BTC), stating that it is on the rise.

 “It is likely to scale as nation-states adopt (it) as legal tender… the price of one bitcoin could exceed $1 million by 2030.”

Ark invest’s report

Ark Invest is a technology-focused American asset management business with $12.43 billion in assets under management located in the United States.

The forecast in Ark Invest’s report “Big Ideas 2022” is based on how swiftly the Ethereum network’s usefulness and efficiency have increased. Decentralized financing has contributed significantly to growth over the last two years (DeFi). Ark summarised the attractiveness of DeFi as follows:

“Decentralized Finance promises more interoperability, transparency, and financial services while minimizing intermediary fees and counterparty risk.”

Furthermore, DeFi is far more efficient. DeFi surpassed traditional finance in terms of revenue per employee during the previous 12 months, according to Ark, by $88 million to $8 million.

In terms of Bitcoin, the research predicts that the price will be $1.36 million per BTC by 2030, with a market valuation of $28.5 trillion. The Ark researchers gave an anticipated future value to each of Bitcoin’s use cases and utilised the sum of all of them to calculate the price of BTC.

Bitcoin is expected to account for 50% of worldwide remittances at 1.5x velocity, 10% of developing the market currency, 25% of US bank settlement volumes, 5% of global high-net-worth individual wealth, 2.55% of institutional asset base, 5% of cash from S&P 500 firms, and 50% of gold’s entire market value by 2030, according to the company.

Ethereum and Bitcoin Dip

The price of Ethereum rose beyond $2800 on Thursday morning, extending its recovery after falling below $2,200 on Monday for the first time since July 2021.

Since falling below $3,000 last Thursday, Ethereum has had a rough patch. The significant decrease in Ethereum — and also in Bitcoin — happened during the stock market’s worst week in nearly two years, and following the release of the Federal Reserve’s long-awaited research on a prospective government-issued digital currency.

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