Cathie Wood, the Bitcoin enthusiast, predicts ARK Invest’s Bitcoin price target to soar “significantly over” $1M.

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 Bitcoin’s price growth. She stated that the launch of the United States’ first spot exchange-traded funds (ETFs) has transformed Bitcoin, leading ARK Invest to reassess its bullish stance on the cryptocurrency. Wood noted that the recent regulatory approval from the Securities and Exchange Commission has accelerated the timeline for Bitcoin’s price target. She also mentioned that major financial institutions have yet to approve Bitcoin, indicating that the current price action is just the beginning. As a result, Wood believes that the previous target of $1 million by 2030 is too conservative, with the new expectations for institutional involvement more than doubling the incremental price. While Bitcoin approaches new all-time highs, market participants anticipate a “wild week” with continued price discovery and ETF inflows. However, it is important to note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.