Cathie Wood BTC Forecast: Cryptocurrency to Reach $1 Million Before 2030

Crypto News – CEO of ARK Invest Cathie Wood has stated that Bitcoin will hit $1 million much sooner than 2030, which was her company’s previous bull-case estimate.

Cathie Wood BTC Forecast: Cryptocurrency to Reach $1 Million Before 2030

In a March 7 interview, Wood said that the launch of spot ETFs was a significant turning point that indicated that Bitcoin would be accepted more widely and integrated into the established financial system. The SEC’s clearance and these ETFs’ subsequent record-breaking performance have sped up the rate at which Bitcoin‘s value has increased. Major wirehouses like Morgan Stanley, Merryl Lynch, and Bank of America have not yet joined the institutional push for Bitcoin, according to Wood, indicating that the cryptocurrency’s price explosion is still a ways off.

No platform has approved Bitcoin yet, so all of this price action has happened before they approve it, and so we haven’t even begun.

Wood

72K Dollar Record from Bitcoin!

Ahead of the anticipated halving in the second half of April, Wood’s remarks are made against the backdrop of Bitcoin’s extraordinary rise to a new all-time high. On March 8 and 5, the leading cryptocurrency had a quick and severe decline after momentarily reaching a new all-time high. On March 10, Bitcoin tried again to break $70,000, but the weekend’s volume was insufficient to get it over the barrier. However, on March 11, 2024, BTC took a massive leap to $72,377. This represents a new all-time high.