Asset management company ARK Invest had previously estimated that Bitcoin would surpass $1 million by 2030, but its founder Cathie Wood predicted in a recent interview that this target price will be achieved earlier.
Cathie Wood believes that since the launch of the United States Bitcoin spot ETF, there has been a shift in Bitcoin. In an interview with the New Zealand Herald on March 7, she pointed out the immense interest and momentum behind the spot ETF, causing even 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 further mentioned that if large institutions such as Morgan Stanley, Merryl Lynch, or Bank of America have not yet joined the institutional push, and stated, “There are currently no platforms approving Bitcoin, all these price movements are happening before their approval, so we haven’t even started yet.”
Considering this, achieving the $1 million target by 2030 seems too conservative. Wood revealed:
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