According to CryptoPotato, ARK Invest CEO Cathie Wood said that she and her funds are now more confident about BTC's "bull market" and expect the BTC price to reach US$1.5 million by 2030.
Cathie Wood said that as regional banks failed and stocks plummeted across the board, the price of Bitcoin rose from $19,000 to $30,000. The rally marked a "flight to safe assets" by investors, which is what everyone ultimately wants. Bitcoin protects against both direct and indirect confiscation of wealth. Direct confiscation refers to the theft of personal property by force, while indirect confiscation refers to inflation, especially by inflating the money supply to astronomical figures through the creation of new coins. Bitcoin's supply is programmatically capped at 21 million coins, so this form of inflation is impossible. However, even in a fiat deflationary environment, Bitcoin can hedge against counterparty risk.
Cathie Wood said, “Bitcoin will not be like 2008 or 2009. Everything is decentralized and transparent.”
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Cathie Wood: BTC price is expected to reach $1.5 million by 2030
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