ARK Invest CEO Cathie Wood has made a bold prediction for Bitcoin (BTC), predicting that the price could reach $1.5 million per coin by 2030.
In a recent interview, Wood outlined his predictions by citing increased institutional interest and regulatory developments as key factors driving Bitcoin’s potential rally.
Wood explained that ARK Invest has set a base case target of $650,000 for Bitcoin by 2030, while a more optimistic bullish scenario sees prices between $1 million and $1.5 million.
ARK Invest has been a Bitcoin supporter since 2015, when the firm first gained exposure to BTC at a price of $250 per coin. Despite Bitcoin’s recent climb to nearly $90,000, Wood believes the asset has significant room to grow.
Wood pointed to several factors supporting the bullish outlook:
Wood highlighted ongoing regulatory developments that he believes will benefit Bitcoin and broader innovation sectors, including healthcare. “We’re getting some regulatory relief here, and I think that’s one of the most important things that’s come out of this administration,” he said.
According to Wood, institutions and asset allocators have begun to view Bitcoin as a unique asset class, distinct from traditional options like stocks and bonds. “This asset behaves differently than all our other assets,” Wood said. “We need to include it as well.”
*This is not investment advice.