Katie Wood predicts bitcoin’s growth to $ 3 million

Ark Invest CEO Katie Wood has shared another optimistic forecast for the future value of bitcoin. Wood suggested that BTC $60,753.14 Bitcoin -1.46% Market capitalization $1.2 trillion VOL. 24 hours $1.44 billion could rise to $ 3.8 million

The expert has repeatedly stated that the price of bitcoin could jump to $ 1.5 million. Last July, she said that her confidence in this increased amid the regional banking crisis in the United States.

Speaking about her latest prediction, Wood noted that such an astronomically high price would be achieved if institutional participants allocate at least 5% of their portfolios to the largest cryptocurrency. Without giving a specific timeframe, Wood believes that this will happen sooner or later.

Ark Invest was one of the firms that managed to get permission from the US Securities and Exchange Commission to launch a spot bitcoin ETF in January. After the product launch, Wood predicted that bitcoin would continue to displace the gold market, as there is now a much easier way to access the leading cryptocurrency.

In an interview with science and technology entrepreneur Peter Diamandis, Wood said that ARK’s prediction of the flagship digital asset reaching 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.