Ark Invest CEO Cathie Wood is known for her bold predictions regarding Bitcoin and cryptocurrencies. Despite the skepticism surrounding these predictions, they continue to attract the attention of investors and analysts alike.
At an investor day in New York, Wood made a surprising prediction. According to Wood, Bitcoin price could rise to a staggering $3.8 million by 2030.
In his own words, Wood expressed his prediction as follows:
“Last year, we put forward our bullish scenario for Bitcoin. This figure was $1.5 million. With the institutional green light provided by the SEC (Securities and Exchange Commission), albeit difficult, according to our analysis, institutional investors invested a little more than 5% of their portfolios in Bitcoin. “If they do, and we think they will over time, that alone would add $2.3 million to the estimate I gave you.”
Wood's prediction is based on the assumption that institutional investors will start investing heavily in Bitcoin. If Wood's prediction proves correct and Bitcoin reaches $3.8 million by 2030, a modest investment of $1,000 today could potentially rise to over $60,000. However, there are also many analysts who are skeptical of Wood's prediction, considering it only has 5.5 years to come true.
*This is not investment advice.