Cathie Wood, the CEO of asset management firm Ark Invest, has backed Bitcoin (BTC) to achieve a $1.5 million price point by 2030. The American investor and cryptocurrency advocate has based this projection on multiple factors, including rising institutional investment and global recognition of Bitcoin’s ability to serve as a store of value.
In supporting Ark Invest’s audacious Bitcoin prediction, Cathie Wood also highlights the fact that there are still over 1 million Bitcoin tokens yet to be minted. This indicates that there is still an adequate market supply to match the expected institutional demand.
Finally, the Ark Invest CEO mentions the emerging market use cases of BTC, such as a tool for inflation hedge, cross-border transactions, and activist donations, amongst others as part of the value drivers of this asset.
At the time of writing, the premier cryptocurrency is trading at $103,312, reflecting a 22.62% gain in the last month.
