Cathie Wood, the founder of ARK Invest and also one of the issuers of Bitcoin spot ETF, known as the “female stock god,” recently stated in an interview that due to the increasing interest of institutions and individuals in spot ETFs, ARK Invest now believes that their initial target of reaching $1 million by 2030 is too conservative.
As the founder of ARK Invest, Cathie Wood, also known as the “female stock god,” has previously expressed optimism about Bitcoin, predicting that it will reach $1 million by 2030, nearly 15 times its current price.
As for the reasons for her bullish outlook, Wood believes that Bitcoin, as digital gold, is experiencing a substitution effect.
In the context of Bitcoin continuously reaching new all-time highs, Wood reiterated in an interview with the New Zealand Herald on Sunday that the launch of spot ETFs marks a major turning point: “Bitcoin is being more widely accepted and integrated into the traditional financial system,” accelerating the timeline for Bitcoin’s value appreciation.
At the same time, Wood is optimistic and points out that many major banks in the United States have not yet joined the institutional push for Bitcoin, implying that the price surge of Bitcoin has not yet fully started. Regarding her previous price judgment, Wood stated that as the situation continues to develop and people’s interest in spot ETFs increases, ARK Invest now believes that their initial target of reaching $1 million by 2030 is too conservative.
ARK Invest has revised its outlook to be much higher than the initial estimate, which could increase the assumed incremental price of Bitcoin by more than double. However, Wood did not specify the exact price. In January, she stated:
“Female stock god” bets 25% of her fortune on Bitcoin: Spot ETF drives Bitcoin to reach $1.5 million by 2030.
Bitcoin experienced dramatic volatility after breaking new highs twice.
After reaching new all-time highs on the 5th and 8th of last week, Bitcoin experienced a sharp decline, resulting in many leveraged investors being liquidated.
Over the past weekend, after failing to break through $70,000, Bitcoin continued to decline for nearly 12 hours. At the time of writing, BTC is currently trading at $68,466, with significant selling pressure and demand. The future direction is worth continuous observation.
Bitcoin spot|Source: OKX
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