1 Popular Cryptocurrency ARK Invest Expects to Surge by 1,480%

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Cathie Wood, the founder and CEO of Ark Invest, is bullish on cryptocurrencies. ARK's flagship ETFs -- ARK Innovation ( ARKK -1.14% ) , ARK Next Generation Internet ( ARKW -0.83% ) , and ARK Fintech Innovation ( ARKF -1.24% ) -- all hold shares of crypto stocks such as Coinbase and Robinhood . Its ARK 21Shares Bitcoin ETF ( ARKB -2.69% ) gives investors direct exposure to Bitcoin ( BTC -2.04% ) . Wood claims Bitcoin, which currently trades at about $79,000, could soar nearly 1,480% to $1.25 million within the next five years. That rally would boost Bitcoin's market cap from $1.6 trillion to $25.1 trillion. For reference, gold -- the world's most valuable asset -- currently has a market cap of $31.3 trillion. Let's see what it would take for Bitcoin to generate those massive gains. Bitcoin is the world's largest cryptocurrency, and it's still mined with the energy-intensive proof-of-work (PoW) consensus mechanism. Every four years, a scheduled "halving" halves its mining rewards and makes it more difficult to mine profitably. More than 20 million of Bitcoin's maximum supply of 21 million tokens have already been mined. That scarcity, which will intensify until the last Bitcoin is mined in 2140, makes Bitcoin more comparable to gold and silver than other cryptocurrencies. That's why the Securities and Exchange Commission (SEC) classified it as a digital commodity before other cryptocurrencies. That classification paved the way toward the approval of its first spot price ETFs in early 2024.

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