ARK Invest CEO Cathie Wood expressed on CNBC that Bitcoin (BTC) could potentially reach $1,500,000 by 2030, up 50% from her previous prediction of $1 million.
Wood emphasized that the approval of spot Bitcoin ETFs by the SEC is a significant green light, increasing the probability of a bullish scenario.
In a bear case, Wood sees the price rising to $258,500, while the base case is set at $682,800. ARK Invest attributes the $1 million price target to factors such as a higher hashrate, long-term holder supply, and addresses with a non-zero balance, comparing it to previous market downturns.
The recent SEC approval is seen as further supporting the positive outlook. ARK Invest, an SEC-approved asset manager, launched Bitcoin ETFs, and on Thursday, BTC briefly surpassed $49,000, although it retraced to trade near $46,322.
This optimistic sentiment aligns with Standard Chartered Bank’s prediction of Bitcoin potentially reaching around $200,000 by the end of 2025, drawing parallels to the historical performance of gold following the launch of the first U.S.-based gold exchange-traded product in 2004.
