ARK Invest Predicts Tenfold Rise in Bitcoin’s Market Capitalisation

Bitcoin is set to surpass gold’s $10 trillion market capitalization and become a core financial instrument in the coming years. ARK Invest analysts, reports Cointelegraph.

The current market capitalization of the leading cryptocurrency already exceeds $1 trillion, and experts are confident its tenfold rise is only a matter of time.

Bitcoin is a version hundreds of times better than the precious metal. And there is a high probability that the first cryptocurrency will soon eclipse gold, — said ARK Invest crypto-analyst Yassine Elmandjra.

He also pointed to the futility of criticism of Bitcoin by U.S. Treasury Secretary Janet Yellen, who called the coin speculative asset.

“These are outdated arguments that people bring forward due to a lack of education and unwillingness to study the issue,” said Elmandjra.

Back in March, the head of ARK Investment Management, Kathy Wood, said that in the future Bitcoin would resemble low-risk instruments such as bonds and will enter investors’ recommended portfolios.

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