Wood Sees Bitcoin Soaring to $1.25 Million by 2029

Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin's future value. In a recent interview, she predicted that the cryptocurrency could reach $1.25 million by 2029, with a base case estimate of $750,000. This would represent a staggering 1,490% increase from its current price of around $78,442.

Wood attributes her bullish outlook to several factors, including increased institutional adoption and the growing popularity of Bitcoin among financial institutions. She points out that since spot Bitcoin ETFs were launched in 2024, they have collectively amassed $102 billion in assets under management.

Another key driver, according to Wood, is the potential for a generational wealth transfer, as younger investors become more inclined to put their inheritance into digital assets like Bitcoin. Additionally, she believes that more investors will use Bitcoin as a substitute for gold, further driving up its value.