Ark Invest's Cathie Wood Reiterates Bitcoin (BTC) Could Hit $1M Valuation, Predicts Timeline

Cathie Wood, the CEO and founder of Ark Investment Management, remains super bullish on Bitcoin, the largest cryptocurrency by market cap.

Cathie Wood, CEO and founder of Ark Investment Management, is known for her bullish investment strategy, and recently she shared an optimistic timeline and the possibility theory for Bitcoin (BTC) to hit a million-dollar valuation.

In a recent interview with CNBC, Wood discussed her firm’s price expectations for Bitcoin and the factors that will contribute to its rise.

Known for her bullish stance on crypto, Cathie Wood, also CIO at Ark Invest, remains optimistic about Bitcoin’s prospects and predicts that the world’s leading cryptocurrency will reach a price of $1.5 million by 2030.

However, this is the lower boundary in a bull case scenario, according to the investment manager. In a base case, the Ark Invest CEO predicted that the premier asset would surge to between $700,000 and $750,000. Meanwhile, it would reach at least $300,000 in a worst-case scenario, which is still an over twofold increase from the current market price.

Throwing more light on the logical theory behind this assertion, Wood cited several factors that would drive this ambitious price rally. For perspective, she highlighted that Bitcoin, as digital gold, will demonetize physical gold as market investors reallocate from the old to the new.

Furthermore, the Ark Invest executive emphasized that institutions “are just testing the waters” on Bitcoin. She insisted that major players have barely entered the Bitcoin market, a sentiment that Bitwise’s CIO Matt Hougan shares. Recall that he recently highlighted that 95% of Bitcoin’s supply is already in circulation and owned by entities, while 95% of investable money has yet to flow into the crypto market.

For perspective, there are 202 entities holding Bitcoin, with public companies dominating proceedings. While institutions like Strategy (568,840 BTC), Block. one (164,000 BTC), Tether (100,521 BTC), and Marathon Digital (48,137 BTC) are some of the top holders, Wood suggests that capital would flow in from more major market players as adoption advances.

Meanwhile, with less than 1 million BTC left ever to be minted, Wood maintains that the diminishing supply and emerging burgeoning demand for the rare asset would spark a supply shock and drive the expected rally to $1.5 million.

Bitcoin Could Go as High as $2.4M: Ark Invest

Wood drew inspiration from a recent report shared by David Powell, an on-chain analyst associated with Ark Investment, in her Bitcoin prediction. The gist, published in April, saw the prominent asset manager revise its earlier $1 million to $1.5 million Bitcoin projection by 2030.

Citing improved adoption and the possibility that nation-states would create a reserve for the premier asset, Ark Invest forecasted that Bitcoin could surge to as high as $2.4 million in a best-case scenario.

Moreover, the report also considered the data that 40% of Bitcoin’s total supply has been vaulted or inactive, a condition that Tether’s Paolo Ardoino predicted quantum computers could change. With just 60% available and 95% already mined, the growing institutional adoption would drive prices to $2.4 million per coin.

Interestingly, there are bigger predictions for Bitcoin. Top investment manager Lawrence Lepard predicted that Bitcoin would reach $10 million in the long term, while Strategy’s Michael Saylor projected a rally to $13 million per coin in the next 20 years.