According to a recent report by Ark Investment Management, BTC value will grow to $40000 if all S&P 500 companies distribute only one percent of their possession to the cryptocurrency. BTC value may increase to $40000 if these businesses invest up to 10 percent in the cryptocurrency.
In recent research by Ark, dated December 1, 2020, the value of BTC skyrocketed after the crypto asset was purchased by two companies (Square and Microstrategy). Therefore, the value of bitcoin reached an all-time high in late 2020, as interest for bitcoin grew.
Other conventional assets are dominated by BTC value.
Bitcoin has been the only crypto asset in the past decade that demonstrates lower correlations than other cryptocurrencies. Search results show, however, that compared to its growth, the interest in BTC value is relatively small. Therefore, search results were meager even as Bitcoin prices reached an all-time peak, according to Google data.
Additional info from Target estimates that the risk of investment is worth Bitcoin. The report suggests that in the next five to 10 years, the BTC value could increase from one billion dollars to 500 billion dollars or more.
Similarly, Target argues that the chance of replacing Bitcoin with other crypto assets should not be passed on by crypto investors. The research, however, shows that Bitcoin’s adoption may well set the stage for other cryptocurrencies including Ethereum.
Important BTC value implications as top names join the cryptocurrency field
With the large increase in BTC value, there are increasing concerns that its acceptance, which attracts many big names, could be of great benefit. Paypal has currently launched its trading platform to its qualifying customers and aims to extend the service to all its users around the world.
This is excellent news for Bitcoin as the price of Bitcoin will also grow as well, considering that it is the most sought after crypto commodity, with Paypal’s transaction percentages growing up to 38 percent from last year’s records, hitting 247 billion dollars.