Cathie Wood Doubles Bitcoin Price Target From $1.5 Million to $3.8 Million in 2030

Bitcoin Rockets as Cathie Wood Boosts Price Target to $3.8 Million by 2030
Cathie Wood Doubles Bitcoin Price Target From $1.5 Million to $3.8 Million in 2030

Key Insights

  • Ark Invest CEO Cathie Wood significantly increased her Bitcoin price prediction from $1.5 million to $3.8 million by 2030.

  • Wood believes over 5% allocation from institutional portfolios could significantly boost Bitcoin's market cap.

  • Bitcoin's current growth (58% YTD) aligns with Wood's previous prediction of $1.5 million by 2030.

  • The US SEC's stance on institutional Bitcoin investment could also push the price beyond $1 million as Wood predicts

  • The upcoming April 2024 halving, coupled with ETFs, could trigger a price surge similar to past halving events.

What Will Bitcoin Be Worth in 2030?

Investors and analysts have more than 5 years from now to answer this question.

However, according to Cathie Wood, the CEO of ARK Invest, Bitcoin’s price could explode upwards to a staggering $3.8 million between now and 2030.

According to Business Insider, Wood made this bold prediction during the Bitcoin Investor Day conference in New York.

She maintains that if we see the institutional investors allocate just over 5% of their portfolios to Bitcoin, we could see the cryptocurrency's market cap rally by several hundreds of thousands, adding around $2.3 million to its value.

Bitcoin’s Current Trajectory

Since the beginning of the year, Coinglass data shows that Bitcoin has moved up by around 58.12%, and currently trades at around $66,900.

Bitcoin’s value increasing at this rate (124% in 2023 and  58.12% in Q1 of 2024) aligns with one of Wood's prior predictions from January, in which she stated that Bitcoin might reach $1.5 million per token by the year 2030.

Moreover, Wood believes that the attitude of the US Securities and Exchange Commission towards institutional investments in Bitcoin may play a role in bringing Bitcoin straight up past the $1 million mark, and towards the $3.8 million target.

The Halving Event: A Catalyst for Change

Furthermore, Wood’s predictions coincide with a similar one from QCP Capital, in which the asset manager’s analysts stated that the ETFs will bring in a “broad liquidity rotation” that propels Bitcoin to new highs after the April 2024 halving.

Several more industry experts agree that the upcoming Bitcoin halving event in April could trigger a “supply shock”, causing the demand (and therefore the price of Bitcoin) to skyrocket.

In emerging economies like Brazil, India, Thailand Mexico and Nigeria, Bitcoin is also starting to gain traction as both a hedge against inflation and a promising investment.

Overall, while it might be hard to believe that Bitcoin will soar to nearly $4 million in the years to come, the hype around the ETFs remains strong, Bitcoin's halving has all-positive expectations so far, and the coming bull run is set to bring Bitcoin to stronger new highs in the grand scheme.

Wood believes that this halving, fueled by the ETFs is set to mirror the effects of previous Bitcoin halvings in 2012, 2016, and 2020, which all led to massive price explosions for Bitcoin.

The Ark Invest CEO also opined that we are on the verge of creating an internet-based financial ecosystem via crypto, that could eliminate many of the costs associated with middlemen.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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