600% Bitcoin Explosion Incoming in Base-Case Scenario, According to ARK Invest CEO Cathie Wood – Here’s Why
ARK Invest founder Cathie Wood says Bitcoin ( BTC ) remains on track to hit a massive price target in about five years.
In a new interview on CNBC Squawk Box, Wood says that ARK Invest believes Bitcoin will reach more than half a million dollars by 2030, an over 600% gain from its current value.
“We have a 2030 target. In our base case, it’s around $650,000. In our bull case, it’s between $1 million and $1.5 million. Now, remember, we were the first public asset manager to gain exposure to Bitcoin in 2015 at $250 and we still at $90,000 I think we have a long way to go.”
Wood says that bullish catalysts for Bitcoin to surge in value include the expected regulatory clarity from the incoming pro-crypto US President Donald Trump as well as increased adoption by traditional finance (TradFi). She also believes a declining inflation rate may lead to big rallies.
“Why? Well, first of all, we’re getting regulatory relief here, and I think that’s one of the most important things coming out of this administration. We will get regulatory relief on all kinds of innovation, including healthcare.
So the other thing is, we’re looking at Bitcoin now being viewed as a new asset class. It’s not just a global monetary system. It’s a new asset class. And what that means is institutions and asset allocators generally are saying, ‘Wait a minute, this asset is behaving differently from all of our other assets we need to include it.’ So I think that’s the next big move. ‘
And if you look at years where the Bitcoin has halved and the inflation rate has gone down to 0.9%, it usually had a nice big move.”
Bitcoin is trading for $91,287 at time of writing, up 3.7% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the US stock market plummeted, "Wood Sister" Cathie Wood said: The more the market worries, the more optimistic I become, the bull market is not over
As the Nasdaq falls into a correction zone, Cathie Wood ("Sister Wood") stated that the prevailing market anxiety actually makes her more confident in the continuation of the bull market. She attributes this correction to pressures in the bond market and controversies over AI capital expenditures, but emphasizes that the technological revolution is still ongoing. She also revealed that ARK has used the opportunity to increase its holdings in high-conviction positions such as SpaceX, and expects the stock market to perform well through 2027.
After the "Black Week" for tech stocks, Wall Street calls for "bottom fishing"
Morgan Stanley has made it clear that "the next two to three weeks are the time to increase positions." Ed Yardeni characterizes the current downturn as a "correction" rather than the bursting of a bubble. Major Wall Street institutions have an average year-end target for the S&P 500 of 7,973 points. However, most strategists believe that the direction of AI policy remains the largest variable.
CoreWeave writes to Texas governor-elect seeking "data center consultation"
In this open letter, Michael Intrator stated that CoreWeave "strongly supports" Hinojosa's principled position that the growth of data centers must benefit the people of Texas. "We welcome the opportunity to work with your transition team to responsibly advance approved projects and to establish clear and lasting standards for future developments," he said.
Crypto prices
More
