ARK Invest CEO Cathie Wood reiterated her bullish prediction for Bitcoin prices in a recent interview, insisting that despite market volatility, the company's forecast for 2030 remains unchanged.
It said: "In the base case, Bitcoin is worth about $650,000 by 2030. In the bull case, it is between $1 million and $1.5 million."
Ark Invest first introduced these Bitcoin price predictions in its 2023 Big Ideas report, published last February. Unlike the single prediction in the earlier report, the company proposed three scenarios. Based on the most likely assumptions, the "base case" expects Bitcoin to reach $682,800 by 2030, the "bear case" estimates the price at $258,500, and the "bull case" expects Bitcoin to rise to $1.48 million.
Wood stressed that at current prices, Bitcoin is still a good investment, “Remember, we were the first public asset manager to invest in Bitcoin in 2015 at $250.”
She further explained: “With Bitcoin at $90,000 right now, we think we have a long way to go. Why? First of all, we’re getting regulatory relief here, which I think is one of the most important initiatives of the new administration. We’re going to get regulatory relief for all kinds of innovations, including healthcare.
The other thing is that we’re now looking at Bitcoin as a new asset class, not just as a global monetary system, but as a new asset class, which means that institutions and asset allocators in general are saying, ‘Wait a minute, this asset behaves differently than all our other assets, and we need to include it. ’”
Citing Bitcoin’s historical performance during halving cycles, Wood predicts that Bitcoin will continue to gain momentum as inflation declines and halving events reduce supply. (Bitcoin.com)

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