Ark Invest Raises Bitcoin 2030 Bull Price Target to $2.40 million, Based on More Aggressive Model Predictions

According to TheBlock, Ark Invest, owned by Cathie Wood, raised its bull price forecast for Bitcoin from $1.50 million to $2.40 million (with a target date of 2030), based on its latest model.
In a report published on Thursday, Ark Invest analyst David Puell said the agency had originally predicted a price of about $1.50 million in a bull market scenario for Bitcoin in 2030. However, the forecast was revised up to $2.40 million after Ark's latest experimental model was adopted. The model takes into account the circulating supply of Bitcoin in its calculations, which excludes lost or long-held bitcoins.
The report notes that this bull price forecast is based on Bitcoin's compound annual growth rate (CAGR) of about 72% from the end of 2024 to the end of 2030. Meanwhile, using this more "aggressive" experimental model (which is more aggressive than Ark's official model), the report predicts that Bitcoin will be priced at $1.20 million (53% CAGR) in the base case and $500,000 (32% CAGR) in the bear case.