Bitcoin (BTCUSD)

[OneDay4488]

Serious potential with Bitcoin at these low levels under 50k per coin


ARK Invest's lofty price target over close to 1.4 million per coin

Look at these 8 uses

Bitcoin is used for 50% of global remittances.

Excluding the top four countries, Bitcoin accounts for 10% of M2 money supply (cash and anything in checking and savings accounts) in emerging markets.

It will be used for 25% of U.S. bank settlement volumes.

Bitcoin will represent 1% of total nation-state treasury reserves.

High-net-worth individuals will hold 5% of their wealth in Bitcoin.

Institutional investors will allocate 2.55% of their portfolios to Bitcoin.

It will represent 5% of cash held on balance sheets of S&P 500 companies.

Bitcoin will reach 50% of gold's value.

"Our research suggests that Bitcoin has the potential to transform monetary history by providing financial freedom and empowerment in a fair, global, and distributed way," ARK Invest analyst Yassine Elmandjra wrote. While this statement couldn't be more unoriginal, as every Bitcoin and crypto enthusiast believes that exact same thing, what obviously stands out is the price target of nearly $1.4 million per coin.