ARK Invest has revised its 2030 bitcoin price target, suggesting a range between $500,000 and $2.4 million. This bullish projection incorporates expected increases in active supply and growing institutional adoption. As of late April 2025, bitcoin is trading around $94,000, having recently rallied due to decreasing exchange balances—dropping from 3 million BTC in November 2024 to 2.6 million BTC in April 2025. The high-end forecast reflects a compound annual growth rate (CAGR) of 72% from December 2024, while the base case estimates set the price at $1.2 million, indicating a 53% CAGR. The bearish scenario projects a price of $500,000, corresponding to a 32% CAGR. David Puell, an analyst at the firm, developed these estimates using a model considering several factors including bitcoin's role as 'digital gold' and its use in institutional investments and emerging markets.

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