Katie Wood predicts bitcoin will reach $ 1.5 million by 2027

ARK Invest CEO Katie Wood has said that an explosive jump in the price of bitcoin to $ 1,500,000 is still possible. In a new interview with science and technology entrepreneur Peter Diamandis, Wood said that ARK’s forecast of the flagship digital asset reaching $ 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.

«According to our forecast, the BTC will reach record results in 2027. We still have time, and we still think it will be right. When you use these code words — 'new asset class' - it means that the correlation of returns on these assets is very low compared to returns on other assets ,» Wood emphasized.

Since the supply of BTC is limited to 21 million and institutional investors are now taking it more seriously, Katie Wood believes that BTC could grow in value faster than ever before.

As a reminder, the price of the flagship cryptocurrency has risen to $ 66,707, once again updating its annual maximum. In less than a day, the cryptocurrency has risen by about $ 5,000.