After a dreadful start to the year, Bitcoin (BTC +2.45%) has rallied over the past two months. This has raised investor hopes that Bitcoin might have already hit bottom, and is about to go on another of its epic bull market runs.
Case in point: Coinbase Global (COIN +1.54%) CEO Brian Armstrong now thinks Bitcoin could hit $400,000 by the end of 2030. If that’s the case, then a relatively modest $500 investment in Bitcoin today could be worth nearly $2,500 by 2030. Here’s how it could happen.
Image source: Getty Images.
Bitcoin’s path to $400,000
The primary catalyst for Bitcoin right now is institutional adoption. Loosely translated, this just means that banks, Wall Street financial institutions, and big institutional investors are embracing Bitcoin at an ever-faster rate.
These institutions are creating new Bitcoin financial products, developing new Bitcoin portfolio-hedging…
