In a recent interview with the New Zealand Herald, Cathie Wood, the popular CEO of ARK Invest, revealed new expectations for institutional investments in Bitcoin. Wood disclosed that BTC is expected to break the $1 million mark well before 2030.
This adjustment to the already bullish BTC forecast comes in light of Bitcoin ETFs, as the SEC approval in January has completely reshaped the investment landscape for the largest cryptocurrency. The company's very optimistic price target was already set at one million US dollars per Bitcoin by 2030. However, Wood explained that this goal was set before the SEC gave the green light, and she believes it was a significant milestone that has accelerated the timeline.
According to Wood, Bitcoin's current upward trend precedes the expected widespread institutional adoption. She cites influential financial institutions such as Morgan Stanley, Merrill Lynch, and Bank of America, which have yet to integrate BTC into their offerings. Wood stated, ""Our target is far above that, and with our new expectations for institutional participation, the price premium we assume has even more than doubled."" However, she refrained from mentioning a specific US dollar value.
The revised price target for Bitcoin by ARK Invest reflects growing optimism about the future of the cryptocurrency. This optimism is supported by expected institutional adoption and regulatory developments.
