Katie Wood predicts bitcoin will be worth $ 1 million by 2030

Ark Invest CEO Katie Wood has shared another optimistic forecast for the future value of bitcoin. Wood suggested that its price will reach $ 1 million by the end of the decade.

According to Wood, the launch of the first spot exchange-traded funds (ETFs) for bitcoin has fundamentally changed the investment landscape for the digital currency. The approval of these ETFs by the U.S. Securities and Exchange Commission (SEC) is seen as a key moment that prompts Ark Invest to revise its previous forecasts.

Wood emphasized that the current bullish trend in the price of BTC $62,924.40 Bitcoin 2.12% Market capitalization $1.24 trillion VOL. 24 hours $1.36 billion precedes the expected institutional adoption. This perspective is based on the observation that large financial institutions, including Morgan Stanley, Merryl Lynch, and Bank of America, have not yet officially integrated bitcoin into their offerings. Wood’s comments emphasize the belief in the untapped potential for bitcoin’s growth driven by institutional involvement.

The expectation of increased institutional involvement in bitcoin investments has become a key factor in Ark Invest’s updated price forecast. Wood’s confidence is based on the absence of large banking institutions currently involved in BTC, which she interprets as a sign of the significant growth potential that remains. The firm’s analysis suggests that the additional price growth associated with institutional investors could be significantly higher than previously estimated.

In an interview with tech entrepreneur Peter Diamandis, Wood said that ARK’s forecast for its flagship digital asset to reach a price of $ 1.5 million by 2027 still has time to come true. According to Wood, institutional investors will increasingly pay attention to the crypto king as its path moves away from traditional assets, which will eventually lead to its rapid growth.