Cathie Wood Predicts $2.3 Million Bitcoin on Scarcity and Rising Demand

Cathie Wood, CEO of Ark Invest, set a massive $2.3 million price target for Bitcoin, representing over 3,600% upside from current levels.

Wood argues Bitcoin's price is driven by supply and demand dynamics, and its finite supply supports continued price increases.

Bitcoin recently hit an all-time high over $69,000 after rising 60% year-to-date, though it has since pulled back around 10%.

Contributing factors likely include upcoming Bitcoin "halving" to slow supply growth and new SEC-approved Bitcoin ETFs to increase institutional investment.

Despite big projections, Bitcoin remains highly speculative, so safer ways to gain crypto exposure may be companies like Coinbase and Robinhood.