Cathie Wood Doubles Down on $1 Million Bitcoin Price Prediction, Citing Soaring ETF Flows and Institutional Adoption

• Cathie Wood of Ark Invest has doubled down on her $1 million Bitcoin price target for 2030, now confident it will happen well before then due to factors like the new Bitcoin ETFs.

• Institutional flows into new Bitcoin ETFs have been astonishing, with over $500 million invested on average each day. This is driving up Bitcoin's price.

• Portfolio managers are suggesting higher allocations to Bitcoin, with some like Ark Invest advocating for 20%. Higher suggested allocations could send Bitcoin's price soaring.

• The upcoming Bitcoin "halving" event in April is expected to be bullish for Bitcoin's price, though some like JPMorgan are predicting an end to "halving euphoria" and a potential drop to $42,000.

• For Bitcoin to reach $1 million, flows into Bitcoin ETFs need to continue, suggested portfolio allocations need to rise, and the halving needs to drive further price appreciation as it has in past cycles.