ARK’s Analyst Raises Bitcoin Target to $2.4M
ARK predicts Bitcoin could reach $2.4 million by 2030, significantly increasing its previous forecast of $500,000. ARK Invest analyst David Puell presented the updated estimate using a revised methodology based on long-term market cycles and potential capital inflows.
Why Such a Bold Forecast?
Puell’s model considers six possible channels of capital flowing into Bitcoin. These include institutional investment, use as digital gold, adoption in emerging markets as a store of value, sovereign accumulation, corporate treasury strategies, and Bitcoin-based financial services such as DeFi.
Global Adoption and Institutional Growth
ARK highlights that institutional players worldwide are increasingly allocating Bitcoin in their portfolios. Governments like El Salvador and Bhutan are also accumulating Bitcoin as part of their national strategies. Bhutan reportedly holds over $700 million in BTC as of April 2025.
Strategy’s Corporate Model as a Use Case
ARK also emphasizes the role of corporations like Strategy (MSTR), which holds over 538,000 BTC, or 2.52% of current supply. Their convertible bond strategy allows for continuous BTC accumulation, offering a model that others may follow if Bitcoin continues to rise.
Bitcoin’s Scarcity Drives Long-Term Potential
The forecast range—from $500,000 to $2.4 million—reflects market uncertainty but underscores Bitcoin’s fixed supply of 21 million coins. According to Puell, how much capital enters through the six channels will define which end of the range becomes reality.
