Cryptocurrencies such as Bitcoin and Ethereum are seen to climb even higher and reach more milestones moving forward, Ark Investments’ Crypto analyst says, according to Bloomberg.
- Ether could give investors a “multi-trillion dollar opportunity” even after climbing 2000% in the past year to a $500-billion market capitalization.
- Ark Investment Management LLC Crypto Analyst Yassine Elmandjra believes the crypto space will continue to climb and give way to a new asset class worth trillions of dollars.
- Elmandjra says both Bitcoin and Ethereum will be at the forefront over a longer time horizon.
- Bitcoin’s market value is seen to reach parity with gold by 2026. This would reflect a 10-fold gain.
- Dogecoin is expected to wash out as much of its value if speculative after starting out as a joke in 2013. It currently has a market value of $65 billion.
- Ark has crypto holdings through the Grayscale Bitcoin Trust and listed firms with investments in the space.
- Bitcoin was last trading $56,687.50; Ethereum at $4,367.39; and Dogecoin at $0.489584.
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