According to the CEO of ARK Invest, Cathie Wood, Bitcoin is expected to reach a minimum price of $700,000 in the upcoming years.
In a recent chat on CNBC’s Squawk Box, Wood expresses that ARK still anticipates Bitcoin could potentially surge by approximately 580% over its current worth by the year 2030.
Our goal has consistently been set for achieving it by 2030, with a standard expectation falling between $700,000 and $750,000, while an optimistic outlook predicts values as high as $1.5 million.”
“Our aim has been to reach it by 2030, with the most likely scenario being within a range of $700,000 to $750,000, and a best-case scenario potentially reaching up to $1.5 million.
Wood says there are three driving factors behind the massive Bitcoin price prediction.
David Puell, who is our analyst and also specializes in on-chain analysis, recently shared his insights. In this piece, he outlined several factors that suggest Bitcoin could potentially increase its dominance over gold or expand the store-of-value market. This includes institutions gradually entering the market, as they are currently just dipping their toes in, with a large number of coins yet to be minted. Additionally, there are promising use cases emerging in developing markets. In essence, Puell believes we are only at the beginning of Bitcoin’s journey.
Additionally, Wood asserts that while the United States is currently experiencing an economic downturn, he expects this to change once there’s greater understanding of President Trump’s tariff discussions. This clarity paves the way for significant economic expansion, with growth in sectors such as artificial intelligence playing a key role.
As an analyst, I recently penned a missive addressing our ongoing rolling recession spanning the past three years, initiated by the Fed’s interest rate hikes. The latest data suggests a possible negative growth in the first quarter and potential reoccurrence in the second quarter. The mounting anxiety about a prolonged economic downturn is palpable, yet I remain optimistic that we are nearing the end of this recessionary phase. In the wake of all this uncertainty, I believe we are poised to transition into a period marked by heightened productivity.
As an analyst, I’ve noticed some remarkable advancements in productivity within the government sector, specifically within the realm of artificial intelligence (AI). For instance, there’s a recent conversation between the new heads of the FDA and CDER, discussing the implementation of generative AI in reviewing studies and medical trials. This innovation has the potential to reduce work from days down to mere minutes. It’s clear that we’re witnessing significant productivity evolutions within this ecosystem.
It seems that we might witness an increase in productivity-led growth, implying that inflation could be less than anticipated. This, in turn, would make economic conditions favorable for capital investments.
Bitcoin is trading for $102,811 at time of writing, up 2.4% in the last 24 hours.
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2025-05-09 22:20