Ark Invest, an asset management company, had previously estimated that Bitcoin would surpass $1 million by 2030. However, its founder, Cathie Wood, predicted in an interview last week that this target price will be achieved earlier.
Cathie Wood believes that Bitcoin has undergone a transformation since the launch of the US Bitcoin spot ETF. In an interview with the New Zealand Herald on March 7th, she pointed out the significant interest and momentum behind the spot ETF, which even forced Ark Invest itself to reassess its bullish outlook on Bitcoin. Previously, the company projected that each Bitcoin would be worth $1 million by 2030, but now, this roadmap is changing.
Wood explained:
Wood went on to mention that large institutions such as Morgan Stanley, Merrill Lynch, or Bank of America have yet to join the institutional push, stating, “There are no platforms approved yet, so all of this price action is happening before they approve it, so we haven’t even started.”
Taking this into consideration, achieving the $1 million target by 2030 seems too conservative. Wood revealed:
Source:
Related reports: “Ark Invest Founder Cathie Wood: Bitcoin Can Hedge Against Inflation and Deflation, Bullish on AI and Bitcoin Integration” and “Ark Invest: If 19.4% of Global Investable Assets Are Allocated to Bitcoin, Price Could Reach $2.3 Million.”
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