Cathie Wood, founder of ARK Invest, believes that Bitcoin could experience a significant increase in value in the next five years and has a very optimistic forecast on this subject.$BTC
Wood stated in an interview with CNBC Squawk Box that they predict that Bitcoin could exceed half a million dollars by 2030, which would mean an increase of more than six times its current price level. He also emphasized that in ARK Invest’s basic scenario, they expect Bitcoin to reach $650,000 by 2030. In a more positive scenario, it is stated that Bitcoin’s price could range between $1 million and $1.5 million.
Wood stated that he based these predictions on his past experiences and said:
“We were the first public asset manager to invest in Bitcoin in 2015 when it was around $250. Today, we still have a target of $90,000 and we are still at the very beginning of this journey.”
"Legal Regulations Will Contribute to the Rise of Bitcoin"
Wood highlighted several key factors that could impact Bitcoin’s growth potential, including expected regulatory clarity from the U.S. government and greater acceptance of Bitcoin by the traditional financial world. Furthermore, continued declines in inflation could also be a major catalyst for Bitcoin’s appreciation.
Stating that he is very hopeful about the regulatory environment, Wood made the following statements:
“We are currently seeing a relaxation in the regulatory environment, and this could be one of the most important steps expected from the current administration. Also, Bitcoin is now considered not just a means of payment, but a completely new asset class. This will attract the attention of institutions and asset managers, and they will start to include Bitcoin in their portfolios.”
Bitcoin's Halving Cycles and Inflation
Wood also made important observations about Bitcoin’s past price fluctuations. He stated that Bitcoin’s halvings and low inflation rates in particular often trigger significant price movements. These cycles can further increase Bitcoin’s future potential and create a new wave of growth for the market. Wood believes that these factors could help Bitcoin’s price move upwards.