Cathie Wood from Ark Invest Predicts Bitcoin Will Reach $1.5 Million by 2030 — Here’s the Reasoning Behind It
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Cathie Wood, CEO of Ark Invest, has projected that Bitcoin (BTC) could reach $1.5 million by 2030. This American investor and cryptocurrency proponent supports her forecast with various factors, such as increasing institutional investments and global awareness of Bitcoin’s capability as a store of value.
The Foundations of Bitcoin Success
In a recent discussion with CNBC, Cathie Wood shared Ark Invest’s projected outcomes for BTC, formulated by market analyst David Puell. In a base case, Ark Invest foresees Bitcoin reaching a price between $700,000 and $750,000 by 2030, with the possibility of hitting $1.5 million in an optimistic scenario.
Wood believes these estimates are reasonable given several key factors likely to contribute to Bitcoin’s supremacy. For instance, she highlights the asset’s potential to capture a portion of the gold market as more investors begin to consider cryptocurrency a viable store of value.
Recently, Bitcoin has gained heightened credibility as traditional financial institutions invest and governments focus on regulatory frameworks. In the US, this has led to significant advancements, most notably the launch of Bitcoin Spot ETFs.
Despite being only 17 years old, Bitcoin ranks as the sixth most valuable asset, surpassing commodities like silver and major companies including Saudi Aramco, Meta, and Tesla. Moreover, Cathie Wood underscores that institutional investments and adoption of BTC are still in their early phases.
The anticipated establishment of a federal regulatory framework for cryptocurrency, coupled with the continuous dismantling of operational barriers under the Donald Trump administration, may encourage institutional engagement with Bitcoin, not just as a safe haven but also for the potential of substantial returns from crypto market fluctuations.
1 Million BTC Yet to Be Minted
In backing Ark Invest’s bold Bitcoin forecast, Cathie Wood points out that there are still over 1 million Bitcoin tokens awaiting minting. This suggests that the market supply is still ample enough to meet the burgeoning institutional demand.
Finally, the CEO of Ark Invest mentions emerging use cases for BTC, including its function as an inflation hedge, means for cross-border transactions, and political donations, among other factors driving the asset’s value.
At the time of this writing, Bitcoin is priced at $103,312, reflecting a 22.62% increase over the past month.
BTC trading at $103,240 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from Pexels, chart from Tradingview
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