ARK Invest CEO – Cathie Wood recently stated that the price $BTC is $1 million by 2030. This prediction is much earlier than the company has previously made.
Bitcoin price is 1 Million USD
This price target is updated by the participation of new organizations and important regulatory developments. Especially the US approval of the Bitcoin ETF.
In an interview with the New Zealand Herald, Wood shared that the introduction of exchange-traded ETFs marked an important turning point. It signifies the widespread acceptance and integration of Bitcoin into traditional finance.
SEC approval and the record performance of these ETFs have boosted Bitcoin's price.
Wood pointed out that large banks such as Morgan Stanley, Merryl Lynch or Bank of America have not participated in this price push. That shows that Bitcoin price still has a lot of room to grow. She said:
“No platform accepts Bitcoin yet. So all these price fluctuations happened before they accepted it and they haven't even started yet.”
Wood stated that ARK Invest currently has a target for Bitcoin of $1 million by 2030. They still believe this is too conservative a price.
The company revised its view to more than double its initial estimate.
Bitcoin hits new ATH
Wood's prediction is based on strong ETF inflows and the possibility of growth now that Bitcoin has surpassed the $70,000 mark.
Bitcoin's recent price performance indicates a shift in institutional capital flows. She expects Bitcoin to reach a market capitalization of $20 trillion in the coming years. This would bring the price per token to nearly 1 million USD.
Her comments come as Bitcoin soared to new all-time highs weeks before the halvin. Bitcoin temporarily set new ATHs on March 5 and 8 before going straight past the $70,000 mark at the time. writing point.