ARK Invest BTC Price Target ‘Over $1M’
Bitcoin (BTC) will reach $1 million before 2030, according to the CEO of asset manager ARK Invest.
In an interview with the New Zealand Herald on March 7, Cathy Wood described “new expectations for institutional participation” in BTC price growth.
Wood: $1 Million 2030 BTC Price Target “Moving Forward”
Bitcoin has changed since the first U.S. exchange-traded funds (ETFs) launched, confirms Cathy Wood.
Speaking in front of a major media audience, the famous bitcoin bull doubled down on the future of the big cryptocurrency.
Such is the interest and motivation behind the spot ETFs, she explains, that even ARK itself has been forced to re-evaluate how bullish it is on BTC.
Previously, the company's price target focused on $1 million per bitcoin by 2030. Now, the roadmap is changing.
“That target – it was before the SEC gave the green light, and I think that was a big milestone, and it pushed the schedule forward,” she explained, referring to the regulatory node from the US regulator, the Securities and Exchange Commission. .
Wood maintained that no major wirehouse — names like Morgan Stanley, Merrill Lynch or Bank of America — has yet joined the institutional push.
“No platform has approved Bitcoin yet, so all this price action happened before they approved it, and so we haven't even started,” she said.
With this in mind, $1 million in 2030 seems very conservative now.
“Our target is higher than that; well above that, and with the new estimate of institutional participation, our estimate of incremental value for institutions has actually doubled,” she said, declining to give an exact figure for where BTC/USD will end up instead.
Bitcoin is set for a “wild week” near all-time highs.
As Bitcoin nears new all-time highs at the weekly close of March 10, several shifts are occurring among market participants' own expectations.
RELATED: Bitcoin Accumulation Level Ends As ETFs Fire New $100K BTC Price Target
Traders and analysts see the price rally continuing next week in line with ETF earnings, which show no signs of abating yet.
“It's going to be a wild week,” predicted James Van Straten, research and data analyst at crypto insights firm CryptoSlate, who predicted at X (formerly Twitter).
“If Bitcoin Can Pass 70k Before Coinbase Circuit Breaks. True Price Discovery.”
Van Straten also cited turbulence at major US exchange Coinbase, with BTC/USD hitting new record highs last week.
It included another major interview segment with Larry Fink, CEO of asset manager BlackRock, which currently operates the largest Bitcoin ETF.
BTC/USD was trading around $69,500 at the time of writing, according to data from Cointelegraph Markets Pro and TradingView.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
