ARK Invest CEO Cathie Wood said on CNBC Thursday that bitcoin (BTC), the world's largest cryptocurrency by market value, could reach $1,500,000 in price by 2030 in a bullish scenario, raising her estimate by 50% from a previous prediction of $1 million.
"We think the probability of the bull case has increased with this SEC approval. This is a green light," said Wood on CNBC. On Wednesday, spot bitcoin ETFs were finally approved in the U.S. after a decade of trying. The Securities and Exchange Commission gave the green light Wednesday to key filings from the markets seeking to list the groundbreaking products.
Read more: ARK Invest Maintains Prediction Bitcoin Price Will Hit $1M by 2030
The ARK Invest CEO also said a bear case would see the price rise to $258,500 and a base case of $682,800. ARK backed up the previous $1 million price prediction by pointing to a higher hashrate, long-term holder supply, and addresses with a non-zero balance compared to the prior downturns. The SEC's approval of the spot ETFs has likely added to the bullish thesis.
For full coverage of bitcoin ETFs, click here.
ARK Invest is among the asset managers approved by the SEC to roll out bitcoin ETFs, which started trading on Thursday. On Thursday, the price of BTC briefly topped $49,000 for the first time since December 2021. However, it gave up all its earlier gains and is now trading near $46,322.
ARK isn't the only one expecting a massive jump in bitcoin prices. Standard Chartered Bank recently predicted that the price of bitcoin could rise to levels closer to $200,000 by the end of 2025, comparing the bitcoin ETF to the first U.S.-based gold exchange-traded product, which launched in November 2004. Following this, the price of gold rose over 4x in the seven years it took for gold ETP holdings to mature.
Read more: Why Are Bitcoin ETFs Such a Big Deal? Gold Provides a $100 Billion Answer
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
