A new report from Cathy Woods\u2019 ARK Invest forecasts Ethereum (ETH) will meet or even exceed a $20 trillion market cap within the next 10 years, which would equate to a price around $170,000 to $180,000 per ETH.<\/p>\n
The report also predicted big things for Bitcoin (BTC<\/a>), saying it is \u201clikely to scale as nation-states adopt (it) as legal tender\u2026 the price of one bitcoin could exceed $1 million by 2030.\u201d<\/p>\n ARK Invest is a tech focused American asset management firm based in the United States with $12.43 billion AUM<\/a>.<\/p>\n #BigIdeas2022<\/a> Report is here! <\/p>\n To enlighten investors on the impact of breakthrough technologies we began publishing Big Ideas in 2017. This annual research report seeks to highlight our most provocative research conclusions for the year. Download! https:\/\/t.co\/QvUbuqVpIL<\/a><\/p>\n \u2014 ARK Invest (@ARKInvest) January 26, 2022<\/a><\/p><\/blockquote>\n The prediction in ARK Invest\u2019s report<\/a> Big Ideas 2022<\/em> is predicated on how quickly the Ethereum network has grown in utility and efficiency. Much of the growth over the past two years has come from decentralized finance (DeFi<\/a>). ARK described the appeal of DeFi, stating:<\/p>\n \u201cDecentralized Finance promises more interoperability, transparency, and financial services while minimizing intermediary fees and counterparty risk.\u201d<\/p><\/blockquote>\n According to ARK, smart contracts and decentralized apps (DApps) on Ethereum is \u201cusurping traditional financial functions at the margin.\u201d The report highlighted that banking and lending, exchanges, brokerages, asset management, insurance, and derivatives can all be found on Ethereum-based smart contracts.<\/p>\n What\u2019s more, DeFi is a lot more efficient too. ARK estimated that DeFi outperformed traditional finance over the last twelve months in terms of revenue per employee $88 million to $8 million.<\/p>\n In terms of Bitcoin, the report forecasts $1.36 million per BTC with a market cap of $28.5 trillion by 2030. ARK researchers assigned an estimated future value to eight of Bitcoin\u2019s use cases, and used the sum of all of them to reach their conclusion about BTC price.\u00a0<\/p>\n By 2030, the firm expects Bitcoin to account for 50% of global remittances at 1.5x velocity, 10% of emerging markets\u2019 currency, 25% of US bank settlement volumes, 1% of nation-state treasuries worldwide, 5% of global high net worth individual (HNWI) wealth, 2.55% of institutional asset base, 5% of the cash from S&P 500 companies, and 50% of gold\u2019s total market cap.<\/p>\n ARK also argued that Bitcoin mining \u201ccould revolutionize energy production.\u201d While global concerns have been raised about the tremendous amount of energy that Bitcoin mining requires, the researchers believe that \u201cBitcoin mining will encourage and generate more electricity from renewable carbon-free sources.\u201d<\/p>\n \u201cThe addition of Bitcoin mining into power developers\u2019 toolboxes should increase the overall addressable market for renewable and intermittent power sources.\u201d<\/p><\/blockquote>\n Related: <\/em><\/strong>Ban less likely? Putin says crypto mining has advantages in Russia<\/em><\/strong><\/a><\/p>\n Both ETH and BTC have had a rough past seven days by falling 22.2% and 13% respectively according to CoinGecko.<\/p>\n<\/div>\n\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/bda88b1d-3e1c-47a9-bf88-ee6ce408d371.PNG\")
<\/figure>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/f32d76ce-9b71-402e-aaf8-05cc5adc96f8.PNG\")
<\/figure>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/e9d09be3-01c7-49b7-abbf-5255c2de4388.PNG\")
<\/figure>\n