Cathie Wood, the founder of ARK Invest and also one of the issuers of the Bitcoin spot ETF, known as the “female stock god,” recently stated in an interview that due to increased interest from institutions and individuals in spot ETFs, ARK Invest now believes that their initial target of reaching $1 million by 2030 is too conservative.
Last year, Cathie Wood, who is also known as the “female stock god,” expressed optimism multiple times that BTC would skyrocket to $1 million by 2030 (almost 15 times the current price).
As for the reasons for this bullish outlook, the “female stock god” stated that BTC, as digital gold, is experiencing a substitution effect.
Amidst Bitcoin’s continued surge to new historical highs, Wood reiterated in an interview with the New Zealand Herald last week that the launch of spot ETFs marks a significant turning point: “Bitcoin is being more widely accepted and integrated into the traditional financial system,” accelerating the timetable for BTC’s appreciation in value.
Wood also optimistically pointed out that many major banks in the United States have yet to join the institutional push for BTC, implying that the price of Bitcoin’s surge has not yet fully kicked off. As for her previous price judgment, Wood stated that with the ongoing developments and increased interest in spot ETFs, ARK Invest now believes that their initial target of $1 million by 2030 is too conservative.
ARK Invest has revised its outlook to a number far higher than the initial estimate, which could more than double the assumed incremental price of Bitcoin. Wood did not specify the exact price, but she previously stated in January:
Further reading:
“Female stock god with 25% of her fortune invested in BTC: Spot ETF propels Bitcoin to reach 1.5 million dollars by 2030”
Bitcoin experiences drastic volatility after breaking new highs twice
Bitcoin experienced drastic declines after reaching new historical highs on the 5th and 8th of last week, leading to the liquidation of many leveraged investors.
Over the past weekend, after failing to break through $70,000, Bitcoin continued to decline for nearly 12 hours. At the time of writing, BTC is currently trading at $68,466, with significant selling pressure and demand. The future direction is worth continuous observation.
BTC spot | Image source: OKX
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