Here’s How Much $1,000 In Bitcoin Will Be Worth If Cathie Wood’s BTC Prediction Is Correct
Ark Invest, led by CEO Cathie Wood, has quickly grown into one of the largest asset managers in the world since launching in 2014. The firm emphasizes investing in technology, offering a variety of exchange-traded funds (ETFs) centered around innovative firms. Most recently, Ark teamed up with 21Shares to launch a spot Bitcoin ETF—Ark 21Shares Bitcoin ETF (ARKB). The ETF has performed extremely well, attracting more than $3 billion in assets under management in less than three months.
With that success, Wood’s opinion on Bitcoin has received lots of attention. She noted that Bitcoin could go as high as $3.8 million.
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“With this institutional green light that the SEC [Security and Exchange Commission] has provided, kicking and screaming though it did, the analysis we’ve done is that if institutional investors were to allocate a little more than 5% of their portfolios to Bitcoin, as we think they will over time, that alone would add $2.3 million to the projection I just gave you,” Wood said at a Bitcoin Investor Day in New York a few weeks ago.
Wood’s previous prediction came in January when she stated that Bitcoin could go as high as $1.5 million by 2030, noting that “the probability of the bull case has increased with this SEC approval. This is a green light.”
Wood’s original projection was that Bitcoin would reach $1 million by 2030, which she gave before the approval of spot ETFs. The approval bumped the prediction up to $1.5 million, and the success of the ETFs bumped the prediction even higher to $3.8 million.
In addition to the success of the ETFs, Wood also sees the upcoming halving event as a potential further price catalyst. The halving, which occurs roughly every four years, is expected to happen around April 20. The event could lower the amount of Bitcoin minors sell each day, which could send the price even higher.
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Wood’s prediction for a $3.8 million BTC by 2030 also likely includes the next halving, which could occur in 2028. Looking at Bitcoin’s price history, halvings typically precede…
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