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.

Institutional investors might allocate as much as 6.5% of their portfolios to Bitcoin, which could significantly increase its value.

The approval of 11 spot Bitcoin ETFs by the SEC in January 2024 is expected to increase institutional access to Bitcoin, potentially leading to an influx of new money into the market.

Bitcoin's supply growth rate will fall to just 0.85% in April 2024, further increasing its scarcity and potentially driving up prices.

Ark Invest has a $1.5 million price target for Bitcoin by 2030, based on a compound annual growth rate of 75%.