According to Ark Invest CEO Cathie Wood, the price of Bitcoin (CRYPTO: BTC) could reach as high as $1.5 million by 2030. Given Bitcoin’s current price of just under $50,000, that would represent an almost 3,000% gain within a remarkably short period.
At first glance, this $1.5 million price target might seem outrageous. After all, in its entire 15-year history, Bitcoin has only reached a high of $69,000 — and that was during the extremely speculative crypto bull market of 2020-2021. However, Wood highlights two key catalysts that could lead to a significant increase in Bitcoin’s value. Let’s delve deeper.
The new Bitcoin ETF
The obvious starting point is the new spot Bitcoin ETF product. Ark Invest is one of the investment firms that received approval for a spot Bitcoin ETF, so it’s no surprise that Wood is extremely optimistic about its long-term growth potential. As she recently mentioned on CNBC, the SEC has given the ”green light” for both Wall Street…
2024-01-15 08:05:00
Link from finance.yahoo.com
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