ARK Invest CEO Cathie Wood Expects Bitcoin To Reach $1.5 Million By 2030

ARK Invest CEO Cathie Wood has always been positive about Bitcoin, and her new remarks support her predictions.

Bitcoin was at an all-time high of $93,250 after Donald Trump defeated Vice President Kamala Harris last week. Investor mood has strengthened.

Expected Regulatory Relief
Wood told CNBC's Squawk Box about her Bitcoin price predictions. ARK Invest's 2030 aims are $650,000 to $1 million and $1.5 million, if positive.

Ark's CEO attributed Bitcoin's rise to various factors, including Trump's potential regulatory relief.

The 47th US President has committed to make big reforms, notably in the US Securities and Exchange Commission (SEC), led by Gary Gensler and marked by litigation, Wells Notices, and heightened industry oversight.

Over the last three years, his unhappiness at the regulatory body has pushed CEOs and investors in the digital asset ecosystem to advocate for a clearer regulatory framework to encourage market acceptance and development.

Trump pledged to dismiss Gary Gensler on January 20, the first day of his new government. He promised to make America the “crypto capital of the world” with a new structure and support for digital assets, focusing on Bitcoin.

Industry proponents are pleased, since the market's major digital assets have increased roughly 25% since Trump's win.

Bitcoin: A Unique Asset Class
In the interview, Wood said that ARK Invest was the first public asset manager to invest in Bitcoin at $250 in 2015. Bitcoin has growth potential even at $90,000, according to the asset manager.

Wood believes Trump's election will lead to a better regulatory climate for the cryptocurrency industry, which is vital for Bitcoin's future.

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