Brett (Arbitrum)

Bitcoin

Safe Haven

Brett (SOL)

Investment firm Ark Invest published its latest <a href="https://assets.arkinvest.com/media-8e522a83-1b23-4d58-a202-792712f8d2d3/753ac3f8-c89c-4780-81d2-41a2a71d66ab/ARK-Invest_013124_Big-Ideas-2024.pdf">Big Ideas report</a> on Wednesday, outlining a pathway for <a href="https://cryptonews.com/news/bitcoin-news/">Bitcoin</a> to hit $2.3m. 
Ark’s Brett Winton wrote that for the best returns over 5 years, keeping 0.5% of one’s investments in Bitcoin would have been ideal. On average, allocating about 4.8% to Bitcoin would have worked well. 
Ark Invest released the Big Ideas 2024 report: The optimal allocation proportion of Bitcoin in the investment portfolio in 2023 is 19.4%, while it was only 0.5% in 2015; globally, if 1% is allocated to Bitcoin, the price potential of Bitcoin reaches $120,000, 19.4% is allocated,… 
— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1752882317423706334?ref_src=twsrc%5Etfw">February 1, 2024</a> 
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The report further stated that in 2023, allocating around 19.4% in Bitcoin would have been the optimal choice. Also, the price would be greatly influenced if a substantial portion of the $250 trillion global investable assets were invested in Bitcoin. 
If people worldwide were to invest just 1% in Bitcoin, its price could reach $120,000. However, if a higher allocation of 19.4% were made — the price could soar to $2.3m, Ark said. Source: Ark Invest 
Ark’s “Big Ideas” is an annual document outlining its perspective on emerging technologies and trends that could influence the future. 
Last year, the report showed how <a href="https://cryptonews.com/news/whats-backing-arks-big-bitcoin-ethereum-web-3-forecasts.htm">Bitcoin expanded its role</a> as a worldwide settlement network, with its 2021 settlement volume exceeding Visa’s for the first time. 
<h2 id="ark-highlights-bitcoin-s-bullish-potential">Ark Highlights Bitcoin’s Bullish Potential</h2> 
 Wednesday’s report also discussed Bitcoin’s rebound from difficulties in 2022. In 2023, Bitcoin’s price saw a significant increase of 155%. 
Noteworthy events in 2023 include record-breaking Bitcoin transactions, Ripple’s legal victory against the SEC, and <a href="https://cryptonews.com/news/global-payment-firm-paypal-launches-crypto-stablecoin-how-does-it-work.htm">PayPal’s introduction of a USD stablecoin</a>. 
Ark noted that early last year Bitcoin surged by over 40% year when regional banks such as Silicon Valley collapsed. This highlighted Bitcoin’s function as a safeguard against counterparty risk. 
Additionally, it indicated that Bitcoin exceeded its on-chain market average. Such a milestone hadn’t been achieved in about 4 years. 
“Historically, when the price of Bitcoin crosses above the market mean, it typically indicates the early stages of a bull market,” Ark said. 
The firm also stated that Bitcoin is transforming into a dependable risk-off asset, typically seen as a haven during periods of market turmoil. 
<h2 id="ark-sees-bitcoin-as-a-top-safe-haven-investment">Ark Sees Bitcoin as a Top Safe Haven Investment</h2> 
 Ark CEO Cathie Wood is well-known for her strong advocacy of Bitcoin. The firm she heads holds one of the <a href="https://cryptonews.com/news/bitcoin-etf-approval-frenzy-begins-as-sec-finally-approves-first-spot-bitcoin-funds-bitcoin-remains-unresponsive.htm">recently approved spot Bitcoin ETFs</a>. 
She recently <a href="https://cryptonews.com/news/ark-ceo-cathie-wood-calls-bitcoin-the-biggest-of-all-crypto-ideas.htm">called Bitcoin</a> “one of the most important investments of our lifetimes,” emphasizing its worldwide, rule-based financial system. “We think it’s the biggest of all the crypto ideas out there,” she added.

Ark Invest Breaks Down What it Would Take for Bitcoin to Hit $2.3M

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