Latest news with #DavidPuell
Yahoo
10 hours ago
- Business
- Yahoo
2 Cryptocurrencies to Buy Now Before They Soar 140% and 580%, According to a Wall Street Analyst
Geoffrey Kendrick at Standard Chartered expects XRP to overtake Ethereum as the second most valuable cryptocurrency by 2028. David Puell at Ark Invest thinks Bitcoin can reach $710,000 by 2030 as more institutional investors and companies buy the cryptocurrency. Anyone uncomfortable with volatility should avoid cryptocurrencies, and investors should never anchor to Wall Street's price targets. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) and Bitcoin (CRYPTO: BTC) advanced 565% and 410%, respectively, in the last three years. But certain Wall Street analysts expect the cryptocurrencies to climb even higher in the next few years: Geoffrey Kendrick at Standard Chartered says XRP will top Ethereum by 2028. At current prices, XRP must climb 140% to $5.10 to surpass Ethereum's market value of $302 billion. David Puell at Ark Invest expects Bitcoin to hit $710,000 by 2030. That implies about 580% upside from its current price of $104,000. Here's what investors should know about XRP and Bitcoin. The investment thesis for XRP centers on its ability to facilitate fast and cheap cross-border transactions. It is the native digital asset on the XRP Ledger, a blockchain created by fintech company Ripple to disrupt SWIFT (Society for Worldwide Interbank Financial Telecommunications), the system banks generally use to send money internationally. XRP transactions settle in seconds and cost a fraction of a cent, but SWIFT transactions may not settle for days and often incur larger fees. Yet, very few financial institutions have adopted XRP as a bridge currency to facilitate cross-border payments. I doubt that will change in the future, because cryptocurrency prices are volatile. Why send money as XRP when its price could plunge in a very short period? However, fast and inexpensive transactions mean that the XRP Ledger is also ideal for tokenized assets, a market that will hit $19 trillion by 2030, according to Ripple. Tokenized assets are real-world assets represented as digital tokens on a blockchain. For instance, Guggenheim Treasury Service recently tapped the XRP Ledger to issue digital commercial paper, a fixed-income security. Greater adoption of the XRP Ledger increases demand for the native cryptocurrency, XRP, which could make the token more valuable over time. However, I see a bigger catalyst in the pending approval of several spot XRP ETFs. Bitcoin has gained 125% since the approval of spot Bitcoin ETFs in 2024, and XRP could see similar price appreciation. The investment thesis for Bitcoin centers on its status as digital gold. Investors see the cryptocurrency as a hedge against inflation and the devaluation of fiat currencies like the U.S. dollar. In fact, the U.S. Dollar Index has declined 10% year to date, but Bitcoin has advanced 13%. That trend is likely to continue in the years ahead because, unlike fiat currencies, Bitcoin supply is limited. Importantly, institutional investors are increasingly comfortable owning Bitcoin. Forms 13F filed for the first quarter indicate that the number of large asset managers (with $100+ million in securities) with positions in the two most popular spot Bitcoin ETFs -- the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund -- more than tripled in the past year. Meanwhile, many companies are adding Bitcoin to their balance sheets. Strategy (formerly MicroStrategy) has essentially turned itself into a Bitcoin investment vehicle. It owns 582,000 BTC, purchased at an average price of $70,086, and it plans to invest another $56 billion through 2027. Other companies are following the same playbook, including Mara and Semler Scientific. Here's the bottom line: XRP and Bitcoin could be worth much more in the future due to the catalysts outlined above, But neither is a wise investment for anyone uncomfortable with extreme volatility, and investors should never anchor to price targets set by Wall Street. Finally, between the two, I would choose Bitcoin in a heartbeat because it has the distinct advantage of being the largest, most liquid, and best known cryptocurrency. Additionally, spot Bitcoin ETFs make it easy to get Bitcoin exposure. The same cannot be said (yet) about XRP. Before you buy stock in XRP, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and XRP wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Trevor Jennewine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Semler Scientific, and XRP. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy. 2 Cryptocurrencies to Buy Now Before They Soar 140% and 580%, According to a Wall Street Analyst was originally published by The Motley Fool
Yahoo
25-04-2025
- Business
- Yahoo
ARK Invest Raises Bitcoin Bull Case Target to $2.4 Million for 2030
ARK Invest has significantly revised its price forecast for Bitcoin, projecting a potential rise to $2.4 million by the end of 2030. This marks an increase from its previous bull case target of $1.5 million, reflecting growing institutional interest and Bitcoin's evolving role as "digital gold." According to ARK research analyst David Puell, the firm now estimates Bitcoin's bear and base case scenarios at $500,000 and $1.2 million, respectively, up from earlier projections of $300,000 and $710,000. These predictions are based on various factors, including Bitcoin's total addressable market (TAM) and its penetration rate within the broader financial landscape, which is valued at approximately $200 trillion. Puell noted that institutional investment is a primary driver behind the bullish outlook, with a potential penetration rate of 6.5% into the financial market. Additionally, Bitcoin's status as a "safe haven" asset in emerging markets is contributing to its appeal, as it offers protection against inflation and currency devaluation. The report highlights that if Bitcoin reaches the projected $2.4 million price point, its market capitalization would soar to $49.2 trillion, surpassing the current combined GDP of the United States and China. This valuation would position Bitcoin to potentially overtake gold, which has a market cap of $22.5 trillion. Despite the ambitious targets, achieving even ARK's lower estimates would require Bitcoin to grow at a compounded annual growth rate of 32% for the bear case and 53% for the base case by 2030. Bitcoin has recently rebounded from a low of $75,160 in 2025, trading around $93,704 as of writing. Sign in to access your portfolio
Yahoo
25-04-2025
- Business
- Yahoo
ARK Invest Raises 2030 Bitcoin Price Target to as High as $2.4M in Bullish Scenario
ARK Invest raised its decade-end bitcoin (BTC) price target to as high as $2.4 million apiece after revising its assumptions on active supply, which excludes lost or long-held coins. The largest cryptocurrency by market value was recently trading around $94,000. The bull-projection figure, 60% more than its January 2024 estimate, reflects a 72% compound annual growth rate (CAGR) from last December through the end of 2030. The base case estimates a BTC price of $1.2 million — a 53% CAGR — while the bear case projects $500,000, equating to a 32% CAGR. David Puell, an analyst at the Cathie Wood-led investment company, used a model based on total addressable market and projected market penetration across several sectors. These include institutional investment, bitcoin's role as "digital gold," its use as a haven in emerging markets, adoption for nation-state and corporate treasury holdings and on-chain financial services built on the bitcoin network. In November last year, Puell targeted $104,000-$124,000 by year-end. Bitcoin ended December at $93,440 en route to hitting a record high of $109,000 in January before slumping to lows around $74,500 earlier this month. The rally since then is partly driven by declining exchange balances, which indicate that more BTC is being withdrawn into private wallets, a sign of long-term holding behavior. According to Glassnode data, exchange-held BTC has fallen from approximately 3 million in November 2024 to 2.6 million, reinforcing the growing bullish sentiment around the cryptocurrency. Sign in to access your portfolio
Business Mayor
25-04-2025
- Business
- Business Mayor
Crypto news today: Bitcoin holds firm above $93K, fueled by record ETF inflows and bullish forecast
Bitcoin holds steady above $93,000, showing resilience after earlier correction. US Spot Bitcoin ETFs saw massive $1.2B+ weekly inflow ('Pac-Man mode'), signaling strong institutional demand. US Federal Reserve joined OCC/FDIC in withdrawing previous restrictive crypto guidance for banks. Bitcoin continues to demonstrate significant resilience, maintaining levels above the crucial $93,000 mark after weathering a notable correction earlier this year. This stability is underpinned by a confluence of factors, including surging institutional interest evidenced by record ETF inflows, increasingly bullish long-term price predictions, and a potentially easing regulatory landscape. A primary driver of the recent strength has been the remarkable influx of capital into US-listed spot Bitcoin exchange-traded funds (ETFs). These investment vehicles experienced substantial demand this week, attracting nearly $1.3 billion in net inflows, according to data from SoSoValue. Tuesday alone saw inflows nearing the $1 billion mark, representing the strongest single day since mid-January. This brings the total assets under management across these spot Bitcoin ETFs to an impressive $103 billion. BlackRock's iShares Bitcoin Trust (IBIT) continues to lead the pack, accumulating $2.7 billion year-to-date, including $346 million just last week. Observing the broad participation across ten of the eleven available funds, Bloomberg senior ETF analyst Eric Balchunas described the activity vividly, stating the ETFs had entered 'Pac-Man mode.' This widespread buying across multiple providers, rather than concentration in just one or two, suggests a broadening base of institutional conviction. The total value traded across all spot Bitcoin ETFs reached $496 million, reflecting significant market activity. Lofty projections: ARK Invest eyes $2.4 million bitcoin Fueling longer-term optimism, prominent investment firm ARK Invest recently made headlines by significantly raising its 2030 price targets for Bitcoin. Read More Why is the crypto market down today? Citing institutional investment as a primary catalyst, ARK lifted its 'bull case' scenario from $1.5 million to a striking $2.4 million per Bitcoin by the decade's end. The firm also increased its 'base' case to $1.2 million and its 'bear' case to $500,000. ARK research analyst David Puell explained the rationale, estimating Bitcoin could achieve a 6.5% penetration rate within the massive $200 trillion global financial system in their most optimistic scenario. Furthermore, the firm's model incorporates Bitcoin's growing acceptance as 'digital gold,' projecting it could capture up to 60% of gold's approximately $18 trillion market capitalization. Technical picture: holding support, eyeing breakout From a technical analysis perspective, maintaining current levels is seen as critical. Analysts emphasize the importance of Bitcoin holding support above the $93,500 zone to avoid potential downward pressure. Crypto analyst Rekt Capital suggested BTC needs to consolidate above this level, ideally securing a weekly close above it, to 'resynchronize with the former Reaccumulation range.' Bitcoin has demonstrated its ability to trade above this mark this week, potentially reflecting its appeal as a safe haven amid ongoing geopolitical and trade uncertainties. Sustaining this support could pave the way for a retest of the $100,000 barrier and potentially new all-time highs, according to expert consensus. Further technical indicators point towards underlying market strength. The amount of Bitcoin supply held in profit has reportedly surpassed the 16.7 million BTC 'threshold of optimism.' Historical analysis suggests that when Bitcoin consistently holds above this zone (as seen in 2016, 2020, and 2024), significant price appreciation often follows within months. Read More Bitcoin ETFs are gaining popularity over Ethereum Traders like CrediBULL Crypto are looking for 'one more leg on the lower timeframes' to confirm the breakout, suggesting momentum could potentially carry prices towards the $150,000 region if sustained. Regulatory winds shifting? Fed withdraws guidance Adding a potential tailwind, US banking regulators, including the Federal Reserve, recently took steps to withdraw previous crypto-specific guidance issued to banks in 2022 and 2023. These earlier notices had often required pre-approvals for banks engaging in crypto activities and highlighted perceived risks. By joining the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) in rescinding this guidance, the Fed stated the move aims to ensure its 'expectations remain aligned with evolving risks and further support innovation in the banking system.' While not creating new rules, this withdrawal effectively places decisions on crypto engagement more firmly in the hands of bank managers and compliance teams, pending potential future legislation from Congress. Fed officials noted they 'will instead monitor banks' crypto-asset activities through the normal supervisory process,' potentially signaling a less prescriptive regulatory posture from these key agencies. The combination of strong institutional inflows, ambitious long-term outlooks, supportive technicals, and a potentially less restrictive regulatory environment paints a compelling picture for Bitcoin as it holds key levels and eyes its next potential move higher.
