Cathie Wood, a prominent growth investor, predicts that Bitcoin’s price could reach $650,000 by 2030, with potential upside of 1,500%. The iShares Bitcoin Trust ETF, which tracks Bitcoin’s price, is expected to benefit from this growth. According to Wood, increasing regulatory certainty and institutional adoption are driving the increased awareness of Bitcoin’s diversification benefits.
The article suggests that buying Bitcoin directly may not be feasible for everyone, but several Ethereum-based exchange-traded funds (ETFs) aim to track the underlying price performance on Bitcoin. The iShares Bitcoin Trust ETF is the largest Bitcoin ETF, with over $48 billion in total assets and an expense ratio of 0.12%. It has already risen in value by around 115% since its launch.
Wood believes that Bitcoin’s market cap could reach that of gold, which is currently around $18 trillion, implying significant long-term upside. She attributes her bullish forecast to the growing regulatory certainty and institutional adoption of Bitcoin, as well as its increasing price awareness. The article notes that there’s still much uncertainty surrounding Bitcoin’s value, but Wood remains optimistic.
Investors can consider investing in iShares Bitcoin Trust ETF or other similar funds, but it’s essential to carefully evaluate the risks and potential returns. According to a recent recommendation from The Motley Fool Stock Advisor analyst team, some stocks may offer better opportunities for growth than Bitcoin-based ETFs.
Source: https://finance.yahoo.com/news/crypto-etf-could-soar-1-112000995.html