Cathie Wood’s investment firm ARK Invest is forecasting that Bitcoin’s price will reach $1.5 million by 2030, according to a report released by the company. This prediction, part of their “bull case scenario,” would result in a 15,465% increase from its current value of $95,800.
The firm has also identified several key drivers of future growth, including increased adoption as digital gold, rising institutional investment, and a tightening supply. In contrast, their worst-case scenario predicts Bitcoin’s price will reach $300,000 within the next five years.
ARK Invest has praised the launch of spot Bitcoin exchange-traded funds (ETFs) as a “game-changer” for the crypto sector, citing record-breaking inflows on their first day of trading. The firm also notes that public companies now hold over $55 billion worth of Bitcoin, indicating growing corporate interest in the cryptocurrency.
The price of Bitcoin has gained 113% over the last 12 months and 26.06% in the last 12 weeks. While not all Wall Street firms offer ratings or price targets on Bitcoin, this data suggests a bullish outlook for the cryptocurrency.
Source: https://www.tipranks.com/news/cathie-woods-ark-invest-predicts-bitcoin-btc-will-reach-1-5-million-by-2030