ARK Invest has lifted its most optimistic target for Bitcoin to a staggering $2.4 million by 2030. The firm, known for its high-conviction bets on disruptive innovation, attributes the upgrade to a confluence of rising institutional demand and BTC’s evolving role as “digital gold.” In a report released on April 24, ARK analyst David Puell outlined the asset manager’s revised projections. The new base and bear case estimates have also been raised, to $1.2 million and $500,000 respectively—up from $710,000 and $300,000 just two months ago. Puell said the forecasts stem from a detailed model that factors in Bitcoin’s total addressable market (TAM), estimated adoption rates, and the cryptocurrency’s predictable supply cap. According to ARK, if institutional capital pushes BTC to capture just 6.5% of the global financial market—excluding gold—it would justify the eye-popping $2.4 million valuation. Bitcoin Digital Gold Narrative Gain Traction While Wall Street’s growing appetite for Bitcoin is key to ARK’s bullish outlook, the firm also sees significant upside in BTC’s rising use in emerging economies. In regions plagued by inflation, capital controls, or currency volatility, Bitcoin is increasingly viewed not as a speculative asset but as a lifeline. Puell emphasized this dynamic, noting that “Bitcoin’s safe haven appeal in developing markets carries perhaps the highest potential for real capital inflow.” ARK estimates that this use case alone could account for nearly 14% of the upside in its most ambitious scenario. Bitcoin’s growing resemblance to gold —particularly in terms of scarcity and store-of-value utility—further supports ARK’s confidence. In the bull case, BTC could absorb up to 60% of gold’s $18 trillion market cap, a shift that would fundamentally alter global asset allocation. Trillion-Dollar Club Could See a New Member If ARK’s $2.4 million scenario materializes, BTC total market cap would surge to $49.2 trillion, based on a circulating supply of 20.5 million coins by decade’s end. That figure would rival the combined GDPs of the United States and China and more than double gold’s standing. Even the revised bear and base cases would demand an annualized growth rate of 32% and 53% respectively—aggressive, but not unthinkable, given BTC’s current trajectory. The asset recently rebounded from a 2025 low near $75,000 to the $94,000 range, buoyed in part by the Trump’s announcement of a Strategic Bitcoin Reserve . The post ARK Invest Lifts Bitcoin Bull Target to $2.4M as Institutions Drive New Gold Narrative appeared first on TheCoinrise.com .