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 would be achieved earlier.
Wood believes that Bitcoin has undergone a transformation since the launch of the US Bitcoin spot ETF. During an interview with the New Zealand Herald on March 7, she pointed out the significant interest and momentum behind the spot ETF, which even forced Ark Invest to reevaluate its bullishness 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 major institutions such as Morgan Stanley, Merrill Lynch, or Bank of America have yet to join the institutional push for Bitcoin, stating, “No platform has approved Bitcoin yet, so all of this price movement is happening before they approve it. So we haven’t even started.”
Considering this, achieving the $1 million target by 2030 seems too conservative. Wood revealed:
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Related articles: “Ark Invest Founder Cathie Wood: Bitcoin Can Hedge Against Inflation and Deflation, Bullish on AI and Bitcoin Combination” “Ark Invest: If 19.4% of Global Investable Assets are Allocated to Bitcoin, Price Could Reach $2.3 Million”
