ARK Invest’s founder and CEO, Cathie Wood, reiterated her long-term optimism for Bitcoin in the November edition of In the Know podcast. 

Despite recent market fluctuations, she confirmed that her $1 million price projection for Bitcoin remains unchanged.

Wood pointed to the rapid expansion of stablecoins, whose combined value has now exceeded $300 billion, as evidence of a major evolution within the digital asset sector. 

She explained that while the rise of stablecoins could moderate Bitcoin’s short-term performance, their success reinforces the overall credibility and maturity of the crypto ecosystem.

Bitcoin vs. Gold: $1 million prediction

Comparing Bitcoin’s trajectory to that of gold, Wood remarked that the precious metal’s market value has roughly doubled in recent years. She suggested that Bitcoin has the potential to match or even surpass half of gold’s market capitalization, which supports ARK Invest’s continued positive stance.

Wood also acknowledged that current liquidity pressures are weighing on the digital asset market but anticipates conditions to improve around mid-December, following updates from the Federal Reserve and new U.S. employment figures.

Are the factors behind the market’s recent pullback short-term? Hear why @CathieDWood thinks so, and why December could be a turning point, on this month’s “In The Know.” https://t.co/9QOlJvfbWG

She concluded that Bitcoin’s status as “digital gold” is strengthening amid growing institutional involvement and a stabilizing macroeconomic environment, which she believes will lay the groundwork for another phase of growth heading into 2026.

Earlier, Wood reaffirmed her optimistic outlook on Bitcoin, predicting a base price of $650,000 by 2030, with the possibility of reaching as high as $1.5 million under more favorable circumstances. Wood, a prominent advocate for Bitcoin who began investing in the cryptocurrency in 2015, attributes her confidence to two primary factors driving its growth.

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Sat, 11/16/2024 - 09:39 Bitcoin to Hit $1.5 Million by 2030, Says ARK's Cathie WoodByDan Burgin

This past week, BTC fell below the $100,000 mark for the first time since June 22. Bitcoin's price action has now begun to show early indications of stability. 

With renewed spot demand close to the $100,000 psychological level, where buyers have continuously reappeared, the market is currently leaning neutral-to-slightly bullish.

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