A Thursday morning panel at Bitcoin Miami with Ark Invest (NYSE:ARKK) CEO Cathie Wood and Bitcoin whale/CEO of Microstrategy (NASDAQ:MSTR) Michael Saylor discussed the projected future for Bitcoin (CRYPTO: BTC), which represents the blockchain industry as a whole. “As many of you may know, in our big ideas 2022 [from Ark Invest] we have a price target in 2030 of more than one million dollars per Bitcoin,” Wood says of projections for how much money will pour into the blockchain industry in the coming years.
While that price target may seem outlandish, Wood argues that it would take just 2.5% of institutional assets to be allocated to Bitcoin in the coming years to make that price target come true. Price targets such as these operate under the knowledge that blockchain will usher in a new future for the global internet and across virtually all industries. With the success of digital assets such as NFTs taking off in recent months, as well as a general interest in the tech becoming more widely accepted, claiming that cryptocurrency assets are dramatically undervalued today is not an outrageous claim.
