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

Crypto Seen to Give Birth to New Trillion-Dollar Asset Class
  • 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.