Cathie Wood Predicts Bitcoin’s Price to Reach $1Mn By 2030

Crypto News: In a recent televised interview on CNBC, renowned investor Cathie Wood, the CEO of Ark Invest, made a bold prediction for the future price of Bitcoin. According to Wood’s analysis, the flagship cryptocurrency could surge to a staggering $1 million by 2030, with its base price currently hovering around $600,000.

Cathie Wood Maintains Bullish Stance On Bitcoin

Despite the regulatory challenges and lawsuits targeting crypto platforms operating in the United States, Wood remains steadfast in her optimistic outlook. She views Bitcoin as a perfect hedge against inflation and counterparty risk, highlighting its unique attributes. Wood describes Bitcoin’s creation as a “very big idea” and refers to it as the “first global, private, no government oversight, digital, rule-based monetary system.”

Read More: Michael Saylor Proposes Bitcoin To Solve Turkish Lira Issue

This isn’t the first time Wood has made audacious price predictions for Bitcoin. In a May 2021 interview with Bloomberg, she forecasted that Bitcoin would reach $500,000 by 2026. In early 2022, she further raised the bar, setting the target at $1 million by 2030. Wood’s unwavering confidence stems from its ability to withstand financial crises, highlighting the recent banking turmoil where Bitcoin’s price remained resilient, thereby acting as a “flight to safety” according to Woods.

Woods Optimistic Take On Coinbase & Regulations

Wood has also expressed bullish sentiments regarding Coinbase, the leading cryptocurrency exchange in the United States. In light of recent legal challenges faced by Coinbase and the Binance exchange amid the U.S. SEC’s wild crypto crackdowns, Wood differentiated between the two — asserting that the crypto heavyweights did not belong to the same category. Moreover, Wood maintained her optimism surrounding COIN’s stock price as evidenced by her recent purchases of the equities.

While speaking about the ongoing proposals and bills presented by Congress to legitimize cryptocurrencies including stablecoins, the 67-year-old investor was quoted as saying:

We now have the Judicial system and the Legislative system getting involved in this topic and I think it’s great”

In addition, Woods was of the opinion that recent events would eventually pave the way for more regulatory clarity on digital assets and pathways for businesses to register with the concerned authorities.

Also Read: Binance To Temporarily Suspend All Crypto Margin And Earn Related Services

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