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Bitcoin

James

<h2 id="key-points">Key Points</h2>
<ul>
 <li>ARK Invest CEO predicts Bitcoin (BTC) will reach $1 million sooner than 2030.</li>
 <li>Increased institutional interest in BTC has prompted a reevaluation of price predictions.</li>
</ul>
<p>Cathie Wood, CEO of asset management firm ARK Invest, has expressed her belief that <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> will reach a value of $1 million before the year 2030.</p>
<h2 id="shifting-expectations">Shifting Expectations</h2>
<p>Wood’s comments came during an interview with the New Zealand Herald where she discussed the evolving landscape of Bitcoin.</p>
<p>She attributed the shift in expectations to the introduction of spot exchange-traded funds (ETFs) in the United States, which has significantly impacted Bitcoin’s growth trajectory.</p>
<p>The momentum behind these ETFs has been so substantial that even ARK Invest has had to reassess its bullish stance on Bitcoin.</p>
<h2 id="institutional-involvement">Institutional Involvement</h2>
<p>Wood highlighted that no major wirehouse, such as Morgan Stanley, Merryl Lynch or Bank of America, has yet joined the institutional push towards Bitcoin.</p>
<p>She also noted that no platform has approved Bitcoin yet, suggesting that the current price action has occurred without their involvement.</p>
<p>Taking this into account, Wood believes that the previous target of $1 million by 2030 now seems too conservative.</p>
<p>As Bitcoin approaches new all-time highs, market participants are adjusting their expectations.</p>
<p>Analysts anticipate that price discovery will continue in line with ETF inflows, which show no signs of slowing down.</p>
<p>James Van Straten, a research and data analyst at CryptoSlate, predicts a “wild week” for Bitcoin.</p>
<p>He also pointed out the recent turbulence at <a href="https://crypto.ro/en/exchange/gdax/" rel="noopener noreferrer nofollow">Coinbase</a>, the largest U.S. exchange, as Bitcoin reached new record highs.</p>
<p>At the time of writing, Bitcoin was trading at around $69,500.</p>

Cathie Wood Forecasts ARK Invest’s Bitcoin Price Far Beyond $1M Mark

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