Posted 1/15/2024, 1:05:00 PM
Cathie Wood Sees Bitcoin Reaching $1.5 Million by 2030 on Expanding Utility and Mainstream Adoption
- Cathie Wood predicts Bitcoin could reach $1.5 million by 2030, a 3,000% increase from current levels
- New SEC-approved Bitcoin ETFs allow mainstream investors to allocate to crypto, potentially driving billions in inflows
- Ark Invest sees 8 different use cases for Bitcoin, expanding its utility as "digital gold" for storing value
- Institutional investors allocating just 1-6% of assets to Bitcoin could dramatically increase demand
- Despite bullish forecasts, Bitcoin remains volatile and faces regulatory risks that could hamper growth