Investment firm ARK Invest has significantly raised its price forecast for Bitcoin, predicting a bullish scenario of reaching $2.4 million by the end of 2030. This bold prediction is attributed to the growing influence of institutional investors, Bitcoin’s adoption as digital gold, and its rising role as a safe-haven asset in developing economies. The new projections from ARK research analyst David Puell detail a base case target of $1.2 million, a bear case of $500,000, and represent significant jumps from February 2024 estimates. 6.5% of the global financial market, excluding gold, is expected to be captured by Bitcoin by 2030, according to ARK’s analysis. Puell cites institutional involvement as a key factor driving this bullish scenario. The firm also predicts Bitcoin will reach 60% of gold’s $18 trillion market cap, further cementing its position as the new standard for digital wealth preservation.