Bitcoin price could reach $2.3 million if Bitcoin accounts for more than 19% of global assets - ARK

The report, titled 'Big Ideas 2024', looks at the impact of technology on underlying industries and economies around the world and the intersection of technology and connectivity. It covers a variety of topics, including Bitcoin's role in an investment portfolio and potential catalysts for Bitcoin's price action in 2024. The study also found that Bitcoin has outperformed all asset classes. Large products such as gold, stocks or real estate for long-term investment profits. Bitcoin's compound annual growth rate (CAGR) is at 44%, far exceeding the average asset class CAGR of 5.7%.
According to ARK Invest, the optimal level of analysis for Bitcoin investing in 2023 is suggested to be 19.4%. Falling below this level of analysis could result in suboptimal returns, while going beyond this could expose you to unnecessary risks. ARK Invest estimates that Bitcoin price could reach $120,000 if 1% of global assets were further allocated to it, reach $550,000 if 4.8% split, and up to $2.4 million if more than 19% were allocated. asset.