EddieJayonCrypto
11 Jan 24
In a recent CNBC interview, Cathie Wood of ARK Invest and 21Shares shared her bold prediction that Bitcoin could reach $1.5M by 2030, a significant increase from its current price of roughly $48.9K. Wood emphasized that her firm's base case is in the $600K range, which would require a 1,161% increas...
In a recent CNBC interview, Cathie Wood of ARK Invest and 21Shares shared her bold prediction that Bitcoin could reach $1.5M by 2030, a significant increase from its current price of roughly $48.9K. Wood emphasized that her firm's base case is in the $600K range, which would require a 1,161% increase in Bitcoin's value over the next few years. This assertion is rooted in Wood's belief in the potential of Bitcoin, as she describes the competitive landscape for new spot Bitcoin ETFs, confidently asserting that Ark 21Shares Bitcoin Trust will be a dominant player. Wood's outlook rests on the foundation of Bitcoin's steadily increasing value over the past 5 years, with a growth rate of 1,202%, despite being off its all-time high of $68K reached in 2021. Additionally, Wood highlighted the approval of various Bitcoin exchange traded funds by the U.S. Securities and Exchange Commission, listing Grayscale Bitcoin Trust, iShares Bitcoin Trust, Valkyrie Bitcoin Fund, and others as part of the first wave of available investment opportunities.
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