ARK Invest’s Cathie Wood predicts Bitcoin price target to surpass $1 million, says she remains bullish

Bitcoin (
BTC
) is set to reach $1 million before 2030, according to Cathie Wood, the CEO of asset manager ARK Invest. In an interview with the New Zealand Herald, Wood discussed the increasing institutional involvement in BTC price growth and how it has changed since the launch of the first spot exchange-traded funds (ETFs) in the United States. Wood stated that the approval from the Securities and Exchange Commission (SEC) has accelerated the timeline for BTC’s price target. She also mentioned that major wirehouses like Morgan Stanley and Bank of America have not yet joined the institutional push for Bitcoin. Wood believes that the previous price target of $1 million by 2030 is now too conservative due to the new expectations for institutional involvement. However, she did not provide an exact figure for the revised price target. As Bitcoin approaches new all-time highs, market participants anticipate a “wild week” with continued price discovery and ETF inflows. Despite this, readers are reminded that this article does not offer investment advice or recommendations, and individuals should conduct their own research before making any financial decisions.