The chief investment officer of Ark, Cathie Wood, predicted earlier this year that the largest cryptocurrency in the world will reach a price of $1 million per coin by 2030.
However, as the Federal Reserve continues to aggressively tighten monetary policy.
Scaring investors away from riskier asset classes like cryptocurrencies, coin holders and miners have begun selling off the token in large quantities in 2022.
According to Bloomberg data, the benchmark virtual currency has decreased by over 60% to about $19,000 this year.
Ark cryptocurrency analyst Elmandjra stated in an interview with Bloomberg TV on Tuesday that there is still a substantial potential to be discovered in Bitcoin.
Confirming his firm's belief that each coin will surpass $1 million in the coming years.