Bitcoin Soaring Potential: Cathie Wood of ARK Invest Forecasts $1.5 Million by 2030 Amidst SEC’s ETF Approval

Bitcoin Soaring Potential: Cathie Wood of ARK Invest Forecasts $1.5 Million by 2030 Amidst SEC’s ETF Approval

Crypto News – ARK Invest CEO Cathie Wood, a notable figure in the investment world, made a significant upward revision in her Bitcoin (BTC) price prediction during a CNBC appearance on Thursday. She now envisages a scenario where Bitcoin, the leading cryptocurrency in terms of market value, could soar to an astonishing $1,500,000 by 2030. This optimistic estimate marks a 50% increase from her previous forecast of $1 million, underscoring a growing confidence in the cryptocurrency’s future.

SEC Approval: A Green Signal for Bullish Trends

Wood attributed her heightened confidence to the recent actions of the U.S. Securities and Exchange Commission (SEC). The SEC’s approval of spot Bitcoin Exchange-Traded Funds (ETFs) is seen as a significant milestone, having been pursued for nearly a decade. According to Wood, this development is a “green light” for the bull case scenario, suggesting a more favorable regulatory environment for cryptocurrencies moving forward.

Price Projections: Exploring Various Scenarios

In addition to the bullish scenario, Wood outlined potential outcomes under different market conditions. In a bearish turn of events, she predicts Bitcoin’s price could still see a notable rise to $258,500, while her base case scenario places it at $682,800. These projections are backed by factors such as Bitcoin’s increasing hashrate, the growing number of long-term holders, and a rise in addresses with non-zero balances—all indicators of a maturing and resilient market.

ARK Invest’s Role in the Emerging Bitcoin ETF Era

ARK Invest has emerged as one of the pioneering asset managers approved by the SEC to introduce Bitcoin ETFs. These ETFs, which began trading on Thursday, signify a new era in cryptocurrency investment, allowing easier access to Bitcoin for a broader range of investors. Despite Bitcoin’s price briefly surpassing $49,000, its highest since December 2021, it experienced fluctuations and is currently trading near $46,322.

Global Perspectives: Standard Chartered Bank’s Take on Bitcoin

ARK Invest isn’t alone in anticipating a substantial rise in Bitcoin prices. Standard Chartered Bank recently projected that Bitcoin’s value could approach $200,000 by the end of 2025. This prediction draws a parallel to the launch of the first U.S.-based gold exchange-traded product in November 2004, after which gold prices saw a fourfold increase over seven years. Such comparisons highlight the growing mainstream acceptance of Bitcoin as a viable investment asset, akin to traditional commodities like gold.