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Ark Invest, a firm that manages many exchange-traded funds (ETFs) in the United States, has made some striking comments about Bitcoin.
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In its Big Ideas 2024 report, the company said that if Bitcoin can capture a 19.4% share of global assets, its price could reach $2.3 million. The report also states that investors have made a profit regardless of the price they bought at, as long as they held it for 5 years.
The company conducted a study that calculated the risk-return ratios of assets such as Bitcoin, gold, and stocks over a 5-year period. As a result of the study, Ark Invest determined the most reasonable ratio for BTC in portfolios to be 19.4%. According to the company’s interpretation of this scenario, the BTC price would be $2.3 million.
The company also stated that if Bitcoin is allocated 1% of portfolios, the price would be $120,000.
In addition, the Big Ideas 2024 report states that Bitcoin has outperformed gold and stocks as an investment vehicle in the long term.
Furthermore, BTC outperformed the average by almost 6 times with a 44% annual compound growth rate (CAGR).
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