ARK Invest has revised its Bitcoin price projections for 2030, predicting a bullish scenario where the cryptocurrency could potentially reach $2.4 million per coin, representing a significant increase of over 2,400% from its current price. This updated forecast is more optimistic compared to their previous prediction of $1.5 million.

The firm now anticipates that Bitcoin could experience a compound annual growth rate (CAGR) of 72% under the bullish scenario. Research analyst David Puell has also revealed updated Bitcoin price projections in other scenarios, with the bear case adjusted upward from $300,000 to $500,000 and the base case from $710,000 to $1.2 million.

ARK's Bitcoin price prediction for 2030 considers factors such as institutional investments, Bitcoin’s role as a hedge against inflation, and its status as digital gold. The report also mentions potential contributors to Bitcoin's price appreciation, including more countries adopting BTC as a reserve asset, corporate treasuries diversifying into Bitcoin, and the growth of Bitcoin’s on-chain financial services.

Other industry figures like Michael Saylor and various financial institutions have also expressed bullish outlooks on Bitcoin's future price, with projections ranging from $225,000 to over $23 million per coin. Despite the positive sentiment in the market, the accuracy of these predictions remains uncertain.