Ark Invest says that Ether would reach or exceed a market capitalization of $20 trillion in the next decade, equivalent to $170,000 and $180,000 per token.
The forecast, captured in the firm’s ‘Big Ideas 2022′ report, supports its bullish view on Ethereum with the growing Decentralized finance adoption.
Ark views smart contracts as a potential replacement to the traditional aspects of finance like exchanges, brokerages, insurance, and credit.
Cathie Wood’s firm also forecasts that Bitcoin could exceed $1.36 million per BTC in 2030 with a market capitalization of $28.5 trillion as countries adopt it as a legal tender.
The firm foresees BTC accounting for half the global remittances with 1.5 times velocity and about 10% of the emerging economies’ currency. It projects the digital asset to be 5% of the high-net-worth individuals’ holdings and 2.55% of the institutional asset base.
The firm has a contradicting view on bitcoin mining and energy consumption, saying that the activity would spur the adoption of carbon-efficient energy.
Ark Invest is a US-based asset management company with about $12.43 billion in assets under management.