Yassine Elmamdjra claimed that Bitcoin will hit $1 million as a new all-time high in the next 7 years.
ARK Investment Management LLC is an American fund manager company, which is based in St. Petersburg, Florida. This company manages several actively managed exchange-traded funds (ETFs). In 2014, Ark investment was founded by Cathie Wood.
Recently Yassine Elmandjra, management analyst at Ark investment, appeared in an interview with Bloomberg and shared his personal opinion on the future price of Bitcoin, despite the ongoing struggle of the crypto sector.
Yassine said that he believes that Bitcoin will soon break its last all-time high and further will move toward touching a $100k price.
Ark Analyst noted that Bitcoin has better potential to perform under the current asset class competition because of its popularity as the best store of value & feature to allow the transaction of holding BTC investment easily, which is not the case for stock assets or Govt bonds.
“When we look at Bitcoin’s potential, we segment it across several use cases—everything from it competing as a digital store of value to a settlement network to an insurance policy against arbitrary asset seizure.”
According to Yassine, if we see the majority of the use cases on the Bitcoin network then surely we will see a very big opportunity in the Bitcoin investment journey, which will shift it toward the $1 million target.
As we know that 2022 was not a good situation for the crypto sector so far because volatility impacted many leading crypto projects & coins. For example, the collapse of the Terra blockchain ecosystem & bankruptcy of crypto lending platforms Celcius, BlockFi, Voyager, etc.
Yassine pointed out such types of negative things that happened in the crypto space this year and noted that such things may have an influence on price movement but still in the long term Bitcoin price will be a game changer.