Cathie Wood's Bold Prediction: Bitcoin at $1.5 Million by 2030

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Cathie Wood, the CEO of ARK Invest, has reiterated her bullish Bitcoin price prediction of $1.5 million by the year 2030. She cites the recent approval of the Bitcoin spot ETF in the US as increasing the “probability of the bull case.

In brief:

• Bitcoin’s expanding fundamentals such as rising hash rate, increasing long-term holder reserves, growth in addresses holding BTC, and now the launch of the spot ETF is driving adoption and usage.
• Cathie Wood, the CEO of ARK Invest, predicts that Bitcoin’s price could reach $1.5 million by the year 2030.
• Other forecasters also see a substantial upside in the Bitcoin price, although typically not to the same magnitude as Wood. Earlier this week, analysts at Standard Chartered Bank predicted $200,000 per Bitcoin by 2025 based on comparing the crypto asset’s market with the advent of the first gold-backed ETF in 2004.

Bitcoin has been a hot topic in the financial world for years, and it’s not hard to see why. The cryptocurrency has been on a wild ride, with its price fluctuating wildly over the years. However, according to Cathie Wood, the CEO of ARK Invest, Bitcoin’s price could reach $1.5 million by the year 2030. This is a bold prediction, but one that is backed up by some compelling evidence.


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Bitcoin’s Expanding Fundamentals

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Wood points to Bitcoin’s expanding fundamentals as the driving force behind her bullish prediction. These fundamentals include rising hash rate, increasing long-term holder reserves, growth in addresses holding BTC, and now the launch of the spot ETF. The SEC approval of ETFs backed by actual Bitcoins has been seen as a milestone event by the cryptocurrency industry. At least nine ETFs began trading on US stock exchanges yesterday, sparking immediate enthusiasm. Bitcoin prices shot up 9% in the first hour of trading on Thursday.

Wood’s Bullish Prediction

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Wood’s bullish prediction is based on her belief that Bitcoin represents “a financial superhighway” and “public good” that will expand from current levels as adoption continues increasing. She cites the recent approval of the Bitcoin spot ETF in the US as increasing the “probability of the bull case.” On Thursday, Wood went on CNBC and stated that her base case scenario sees Bitcoin reaching $600,000 by the end of the decade. However, under more optimistic conditions, Wood believes the leading cryptocurrency by market capitalization could surge over 3,000% from current levels and trade at $1.5 million per coin. This revises her previous forecast of $1 million which she gave last year.


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Other Forecasts

Other forecasters also see a substantial upside in the Bitcoin price, although typically not to the same magnitude as Wood. Earlier this week, analysts at Standard Chartered Bank predicted $200,000 per Bitcoin by 2025 based on comparing the crypto asset’s market with the advent of the first gold-backed ETF in 2004. While only time will tell whether Bitcoin reaches a multi-million-dollar valuation, Cathie Wood remains an ardent believer in the network’s long-term investment thesis.

Conclusion

In conclusion, Bitcoin’s price could reach $1.5 million by the year 2030, according to Cathie Wood, the CEO of ARK Invest. This is a bold prediction, but one that is backed up by some compelling evidence. Bitcoin’s expanding fundamentals such as rising hash rate, increasing long-term holder reserves, growth in addresses holding BTC, and now the launch of the spot ETF are driving adoption and usage. While other forecasters also see a substantial upside in the Bitcoin price, Cathie Wood remains an ardent believer in the network’s long-term investment thesis.


References:
Yahoo! Finance. Bitcoin Price Could Reach $1.5 Million By 2030, Predicts ARK Invest CEO Cathie Wood.
Coindesk. Cathie Wood Sees Bitcoin Price Reaching $1.5M by 2030 After ETF Approval.
Businessinsider. Cathie Wood's Ark Invest says bitcoin could hit $1.5 million by 2030, doubling down on its bullishness for the world's largest cryptocurrency.
Bitget. ARK Invest CEO predicts bitcoin could reach $1.5 million by 2030.
Coinmarketcap. Bitcoin Price Could Reach $1.5 Million By 2030, Predicts ARK Invest CEO Cathie Wood.


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