1 Trillion Forecast For Bitcoin From Tesla Investor – Somag News
Tesla investor Ark Investment suggested that the market value of Bitcoin could increase from $ 1 trillion to $ 5 trillion in up to 10 years. Ark Investment analyst also mentioned the obstacles to Bitcoin on this road.
Ark Investment, one of the companies investing in Tesla, made striking predictions about the Bitcoin market value. Yassine Elmandjra, one of the analysts of Ark Investment, stated on the company’s official website that the market value of Bitcoin, which is close to $ 200 billion today, could increase to $ 1 to 5 trillion in the next 5-10 years. Elmandjra added that Bitcoin should not be ignored by investors. Ark has also made many optimistic predictions about Tesla before and showed his right when Tesla prices quadrupled this year.
“The Potential Is Very High, But There Are Obstacles To Overcome”
Bitcoin is ranked by most market experts as the best performing asset of the last 10 years. The BTC price climbed to $ 20,000 at the end of 2017 from almost zero. Although it can’t hold on to it and is currently trading at about 50% lower value, Ark has completely positive feelings for Bitcoin in the long run. Analyst Elmandjra underlines that Bitcoin has a significant appreciation potential. According to the analysis of Ark Investment, the market value of Bitcoin can be measured in trillions before 10 years.
Analsit Elmandjra talked about all these positive predictions, as well as the risks that could disrupt this plan. According to Elmandjra, some of the obstacles that Bitcoin must overcome; The technological conditions that make it difficult to hold large amounts of Bitcoin, the uncertainty of some regulations that can be brought to Bitcoin by the governments, and the “over-institutionalization” and the concentration of Bitcoin value in the hands of a few great powers.
Bitcoin, Star of the Last Year
Bitcoin has left its mark on the past 10 years; Based on the highest value of 20 thousand dollars, it managed to increase its value tens of thousands of times. But for Bitcoin, the year 2020 was also breathtaking. The bitcoin price increased by 40% in 2020, and its market cap increased to almost $ 200 billion. According to Bloomberg, it has become the highest-earning asset of the year by overtaking the gold and stock markets.
BTC, which started 2020 at around 7 thousand dollars, declined to 4 thousand dollars with the decrease it experienced in March. In the same month, it started to increase its price up to 10 thousand dollars. Many people chose to take shelter in Bitcoin against inflation, which was further reinforced by the pandemic. If Bitcoin, which started to attract not only individual investors but also institutional investors, keeps the predictions of Ark Investment and succeeds to overcome the mentioned obstacles; it can continue on its way by scaling its value in trillions.