ARK raises 2030 bitcoin bull market forecast to $2.40 million, citing institutional investment as the main reason

In its latest report, ARK Invest raised its price target for a 2030 bull scenario to about $2.40 million, with a base scenario of $1.20 million and a bear scenario of $500,000. "Institutional investment contributes the most to the bull scenario," the report said. ARK said bitcoin was increasingly accepted as a "more flexible and transparent store of value".