Cathie Wood Sees Bitcoin Skyrocketing to $2.4 Million by 2030

Cathie Wood, the founder of ARK Invest, has maintained a bullish outlook on Bitcoin, predicting it could reach $710,000 to $800,000 by 2030 in a base-case scenario. In its most optimistic projection, ARK Invest puts Bitcoin's value at up to $2.4 million by the same year.

According to Wood, the cryptocurrency's price could surge due to continued institutional adoption, the increasing demand for Bitcoin ETFs, and corporate treasury buying. The launch of US spot Bitcoin ETFs in 2024 has made it easier for institutional and traditional investors to gain exposure to the cryptocurrency through familiar financial products.

ARK Invest also views Bitcoin as having characteristics similar to digital gold, particularly as investors look for alternatives during periods of monetary and economic uncertainty. The firm's projections assume that Bitcoin's market capitalization will expand substantially as adoption increases, reaching a value of roughly $16 trillion by 2030.

The cryptocurrency's predetermined issuance schedule is also central to the thesis. The 2024 halving reduced the rate at which new BTC enters circulation, which could further drive up the price.