ARK Invest CEO Makes Bold Prediction: Bitcoin to Hit $1.5 Million by 2030

ARK Invest CEO Cathie Wood Confident in $1.5 Million Bitcoin Price Target by 2030

ARK Invest CEO Cathie Wood expressed her increased confidence in the “bull case” for Bitcoin, stating that she believes the cryptocurrency will reach $1.5 million by 2030. This boost of confidence comes from Bitcoin’s positive response to the regional banking crisis in the United States in March.

Main Key Points:

ARK Invest published a bear, base, and bull thesis for Bitcoin’s price in 2030, with price targets of $258,500, $682,800, and $1.48 million respectively.
The bull case is supported by Bitcoin absorbing 50% of gold’s market cap, 6.5% of the institutional asset base, and 10% of the M2 money supply in emerging markets.
Wood’s confidence in the bull case increased when regional banks collapsed in March, leading to a rally in Bitcoin’s price.

Bitcoin as Insurance

Wood believes that Bitcoin serves as insurance against both direct and indirect confiscation of wealth. It protects against direct confiscation by force and indirect confiscation through inflation. Bitcoin’s capped supply makes it immune to inflationary devaluation. Additionally, Wood sees Bitcoin as a hedge against counterparty risk, as it operates in a decentralized and transparent manner.

Other Bullish Predictions

Wood is not alone in her bullish outlook on Bitcoin. Michael Saylor, Executive Chairman of MicroStrategy, predicts a market cap of $100 million for Bitcoin, implying a price of $4.7 million per coin. Others, such as Robert Kiyosaki and Standard Chartered Bank, have also made optimistic price predictions for Bitcoin in the next few years.

Hot Take

ARK Invest CEO Cathie Wood’s increased confidence in Bitcoin’s bull case and her price target of $1.5 million by 2030 reflect the growing belief in the long-term potential of the cryptocurrency. With Bitcoin’s proven resilience during the regional banking crisis and its role as insurance against wealth confiscation and counterparty risk, it is becoming an attractive investment option for crypto enthusiasts.