Cathie Wood, CEO of Ark Invest, believes that one bitcoin will reach the price of $1 million sooner than 2030. Why the change in her forecast?
Cathie Wood and the bitcoin price: a famous CEO says that we will see a million USD for bitcoin sooner than we think
In an interview with the New Zealand Herald on March 7, Cathie Wood was asked about bitcoin. She said the cryptocurrency landscape has changed since the launch of BTC ETFs in the United States. This change is so large that the company it heads changed its forecast regarding the bitcoin price.
Let us recall that Ark Invest previously claimed that 1 BTC would cost USD 1 million around 2030. Today he believes that we will visit such an area of the chart sooner.
This goal was set before the SEC (i.e. the Securities Commission in the USA, the equivalent of the Polish Financial Supervision Authority in Poland – author's note) gave us the green light (i.e. agreed to ETFs) and I think it was a milestone that accelerated the schedule (BTC rate)
– Wood explained in an interview.
Then she suggested that the largest inflow of institutional capital is ahead of us. After all, so far no major institution – e.g. Morgan Stanley, Merryl Lynch or Bank of America – has started to get really involved in the BTC market. Taking this into account, the amount of one million USD for one bitcoin in 2030 currently seems too cautious a vision.
However, Wood did not agree to provide an exact forecast. So we don't know whether he assumes that bitcoin will rise to USD one million this cycle. However, given the current price, that would be a staggering increase.
Bitcoin rate
Today, 1 BTC costs approximately USD 68,700, which means an increase of 8% in 7 days and a decrease of 1% since yesterday. In turn, 1 ETH costs approximately USD 3,850, which means an increase of 11% during the week and a decrease of 2.5% since yesterday.
