2022-11-24
Cathie Wood said on an interview with Bloomberg that her funds are
going to hold Bitcoin because the price will go to $1 million by 2030.
Cathie Wood interview might be Bitcoin hype or Bitcoin fomo. However, Ark Invest believes that Bitcoin, Blockchain, and Web3 are the future of the internet.
Ark Invest's Document on why bitcoin price will be $1 million by 2030.
Author Opinion
Why Bitcoin is still dominating the market?
1. Decentralization
Bitcoin goal is to create a financial system that people don’t need
to rely on trust or rely third party. Therefore, Bitcoin creates a system that
allow people to truly own their money.
2. Mining
Bitcoin system has better allocation by giving rewards in the form of newly mint bitcoins to
miners. For many cryptocurrencies most of the supply are in the hand of a few
people.
3. Limited Supply
Many cryptocurrencies can issue new tokens to circulate in the
market. They act like fiat. Bitcoin has been created to hold its value.
4. Lightning Network
Lightning network will make bitcoin payment faster, cheaper, and
process large amount of transaction at the same time.
References
https://www.ark-bigideas.com/2022/en/session/4c8371f2-7e37-11ec-9c95-ab66f8dd2071
