Ark Invest raised its 2030 bull-case Bitcoin price target from $1.5 million to $2.4 million, based on a new model factoring in Bitcoin's liquid supply. The base case is $1.2 million, and the bear case is $500,000. The most optimistic scenario assumes a 72% annual growth rate driven by institutional investment. In contrast, the bear and base cases lean on Bitcoin’s use as digital gold, especially in emerging markets where it acts as a hedge against currency devaluation. Ark noted that lost or long-held BTC are not reflected in most current valuation models.

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