Ark Analyst Stands by Prediction Bitcoin Price Will Top $1 Million
- CEO Cathie Wood previously said token will hit $1 million
- Top crypto analyst at Ark insists the projection still stands
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Ark Investment Management analyst Yassine Elmandjra is standing by his firm’s prediction that Bitcoin’s price will shoot past the million-dollar mark, despite this year’s massive sell-off in the digital currency.
Cathie Wood, the fund manager behind Ark’s flagship innovation-themed ETFs, forecast earlier this year that the world’s largest cryptocurrency would top $1 million per coin by 2030. Yet, coin holders and miners have been selling off the token en masse in 2022 as the Federal Reserve continues to aggressively tighten monetary policy, driving investors away from riskier asset classes, such as crypto.