Ark Invest predicts Bitcoin market cap will hit $16T by 2030

Ark Invest, led by Cathie Wood, projects that Bitcoin's market capitalization will reach $16 trillion by 2030, according to The Block. The forecast is based on an analysis that the total cryptocurrency market will grow to approximately $28 trillion by that year, with Bitcoin's dominance accounting for 60% to 70% of the value. According to the report, Bitcoin is solidifying its status as a store of value and a digital equivalent to gold, driven by increased holdings in ETFs and by corporations, alongside declining volatility. Ark stated that ETFs and publicly traded companies currently hold about 12% of Bitcoin's supply. Additionally, the firm forecasts that the market cap for smart contract platforms will grow to around $6 trillion by 2030.