The CEO of Ark Invest, Cathie Wood, predicts that Bitcoin will surpass one million dollars by the end of the decade
Wood anticipates that the scarcity of Bitcoin and institutional interest will drive a dramatic increase in value towards the end of the decade.
She made the prediction during an interview with Bloomberg Markets, in which she attributed the increase in the value of Bitcoin to its finite supply of 21 million coins and the growing institutional interest. She noted that BTC already surpassed $108,000 in 2024 and will continue to grow in the coming years.
"The scarcity of Bitcoin is unmatched."
Additionally, she highlighted its resilience to inflationary pressures compared to traditional assets like gold. Unlike gold, whose production increases with rising prices, the supply of Bitcoin is fixed, making it an increasingly attractive store of value.
Wood also emphasized that institutional adoption, particularly through Bitcoin exchange-traded funds (ETFs), is amplifying the appeal of BTC and driving broader recognition of its role in the global financial system.