Cathie Wood Is Doubling Down on Her Bullish $1 Million-Plus Bitcoin Price Target. Here's Why.
In 2024, Bitcoin (CRYPTO: BTC) soared past the $100,000 mark for the first time in its history. But that may just be a stepping stone to its ultimate destination: the $1 million price level.According to Cathie Wood of Ark Invest, Bitcoin is now on pace to hit the $1 million price point by the year 2030. In fact, if everything goes according to plan, Bitcoin might actually reach the $1.5 million price point. That might sound like a pie-in-the-sky prediction, but there are actually three very good reasons why it could end up happening.The biggest reason for optimism, says Cathie Wood, is growing institutional adoption of Bitcoin. There is now a realization among the world's largest institutional investors that Bitcoin is a stand-alone asset class that they need to add to their portfolios. With the launch of the new spot Bitcoin ETFs in 2024, they now have an easy way to gain access to this asset class.Continue reading
In 2024, Bitcoin (CRYPTO: BTC) soared past the $100,000 mark for the first time in its history. But that may just be a stepping stone to its ultimate destination: the $1 million price level.
According to Cathie Wood of Ark Invest, Bitcoin is now on pace to hit the $1 million price point by the year 2030. In fact, if everything goes according to plan, Bitcoin might actually reach the $1.5 million price point. That might sound like a pie-in-the-sky prediction, but there are actually three very good reasons why it could end up happening.
The biggest reason for optimism, says Cathie Wood, is growing institutional adoption of Bitcoin. There is now a realization among the world's largest institutional investors that Bitcoin is a stand-alone asset class that they need to add to their portfolios. With the launch of the new spot Bitcoin ETFs in 2024, they now have an easy way to gain access to this asset class.
