ARK Invest Lifts Bitcoin Bull Case To $2.4M by 2030

Fund manager ARK Invest raised its most optimistic Bitcoin price prediction to $2.4 million by 2030—up from $1.5 million previously—citing accelerating institutional adoption as a key driver.

ARK analyst David Puell detailed the updated forecast in an April 24 report, also raising the firm’s bear and base case targets to $500,000 and $1.2 million, respectively. Each scenario reflects growing confidence in Bitcoin’s integration into the traditional financial system.

In the bull case, Puell projects Bitcoin could capture 6.5% of the $200 trillion global financial market, driven by its increasing appeal as both a store of value and a macro hedge. He also sees BTC potentially taking 60% of gold’s $18 trillion market cap as it becomes widely accepted as “digital gold.”

Bitcoin Supply On Exchanges Drops To Lowest Level In Over 6 Years

Supporting the narrative of accelerating institutional adoption, Fidelity Digital Assets noted in an April 24 post on X that Bitcoin held on exchanges has dropped to its lowest level since 2018.

➡️ 2.6M BTC on exchanges, lowest level since Nov. 2018.➡️ Over 425K bitcoin moved off exchanges since Nov. 2024.➡️ Public Companies have added nearly 350K bitcoin post-U.S. election.➡️ Public Companies have bought over 30K bitcoin per month so far in 2025.

— Fidelity Digital Assets (@DigitalAssets) April 24, 2025

BTC held by exchanges plunged to around 2.6 million after more than 425,000 BTC moved off of these platforms since November last year, it said.

The firm attributed the decline to sustained buying by public companies—momentum it expects to accelerate in the near term.

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