Ark Invest Forecasts $2.3 Million Bitcoin on Optimal Institutional Allocation, Citing Diversification and New Bull Market
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Cathie Wood and Ark Invest see Bitcoin rising to $2.3 million per coin if institutions optimally allocate to it, a 4,500% increase from today's price.
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Bitcoin diversifies portfolios and maximizes risk-adjusted returns. Ark says 19.4% was the optimal Bitcoin allocation in 2023.
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Increased ease of investing in Bitcoin through new spot BTC ETFs could drive more demand from institutional investors.
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Ark's on-chain market indicator shows Bitcoin entered a new bull market late last year.
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The upcoming Bitcoin halving in April will slow supply growth, which has coincided with past bull runs.