ARK Invest Sees Bitcoin Soaring to $2.4 Million by 2030

Cathie Wood, the founder of ARK Invest, has predicted that Bitcoin could reach as high as $2.4 million by 2030, based on the assumption of continued institutional adoption, wider use of Bitcoin as an asset class, and increasing demand through regulated investment products.

The base-case scenario, which is the most likely outcome, puts Bitcoin's value at $710,000 to $800,000 by 2030, while the bull case scenario sees the price reaching $2.4 million.

Wood's argument is based on the changing structure of Bitcoin demand, with the launch of US spot Bitcoin ETFs in 2024 making it easier for institutional and traditional investors to gain exposure to the cryptocurrency.

Corporate Bitcoin holdings are also a factor, as companies adding BTC to their treasury reserves could create a more persistent source of demand than short-term retail trading.