🚀 Will Bitcoin Reach $1.5 Million by 2030? 🤯
As one gazes upon the tumultuous world of cryptocurrency, a most intriguing prediction has emerged. The illustrious CEO of ARK Invest, the esteemed Cathie Wood, has proclaimed that Bitcoin (BTC) shall ascend to a staggering $1.5 million by the year 2030. This audacious forecast was shared in a recent YouTube video, whereupon Wood expressed her unwavering confidence in the flagship cryptocurrency’s long-term prospects.
Wood Doubles Down On Bitcoin
As we find ourselves in the midst of a most eventful year, 2024 having witnessed a spectacular price appreciation, BTC currently trades within a narrow range of $92,000 to $104,000. At the time of writing, the flagship cryptocurrency is valued at a respectable $95,575.
Despite recent fluctuations, Wood remains steadfast in her conviction that BTC shall surpass the $1.5 million mark. In a YouTube video published yesterday, the American investor remarked:
Many people know us for our [Bitcoin] bull case, $1.5 million. We actually think the odds have gone up that our bull case will be the right number, because of what is becoming the institutionalization of this new asset class.
Wood astutely observed that an increasing number of institutional investors worldwide view BTC as an emerging asset with a unique risk-return profile. Unlike traditional investments, Bitcoin’s distinct characteristics are compelling large investors to incorporate it into their portfolios.
Institutional interest in BTC has skyrocketed since January 2024, following the US Securities and Exchange Commission’s (SEC) approval of spot BTC exchange-traded funds (ETFs). According to the latest data from SoSoValue, total net assets under spot BTC ETFs currently stand at a substantial $111.78 billion.
As more institutional capital flows into BTC ETFs, Bitcoin’s price may rise accordingly. ARK Invest’s Big Ideas 2025 report projects that BTC could reach $1.5 million under its “bull case” scenario by 2030.
BTC Price Depends On Its Growth Rate
According to ARK Invest, BTC would need to maintain an average compound annual growth rate (CAGR) of 58% over the next five years to achieve the $1.5 million price target by 2030. The chart below illustrates these projections in detail.
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2025-02-13 15:13