ARK Invest CEO Cathie Wood announced that her institution maintains its long-term forecast despite recent fluctuations in the Bitcoin price and capital outflows from ETFs.
In a recent interview, Wood said that his projections that Bitcoin will reach $1.5 million by 2030 still stand.
Wood argued that Bitcoin has “more than halfway through” the current four-year market cycle and that on-chain data suggests the structure is still in an uptrend. However, he noted that the current macro environment is “a period of general risk aversion,” and that the increase in price volatility is therefore natural.
Wood stated that recent regulatory liberalization in the US will be a turning point for institutional investors, noting that asset managers must now develop a perspective on Bitcoin. According to Wood, adding Bitcoin to portfolios will “significantly increase risk-adjusted returns” and accelerate institutional adoption.
Cathie Wood reiterated that despite all the fluctuations, Bitcoin remains both structurally and cyclically strong, and its long-term goals have not changed in the slightest.
*This is not investment advice.
