Key Factors

• The total supply of Bitcoin on exchanges is at its lowest level since 2017, which could lead to increased price pressure as demand outpaces supply.
• Ark Invest has a $1.5 million price target for Bitcoin by 2030, based on a compound annual growth rate of 75%.
• Institutional investors might allocate as much as 6.5% of their portfolios to Bitcoin, which could significantly increase its value.