Cathie Wood Predicts Bitcoin Could Reach Over $1.5 Million

Ark Invest CEO Cathie Wood stated at the Bitcoin Investor Day conference in New York on March 22 that Bitcoin could potentially be valued at more than $1.5 million per coin if institutions allocate around 5% of their portfolios to the cryptocurrency.

Wood’s updated outlook suggests a surge in Bitcoin’s price beyond the $1.5 million mark, aligning with expectations for its integration into the global financial system. Despite institutional investments potentially driving Bitcoin’s value higher, Wood maintains that surpassing $3.5 million is mathematically plausible.

Mathematically Plausible Prediction

Wood previously predicted in January that Bitcoin could reach $1.5 million by 2030 in a bullish scenario after the US SEC approved the first spot Bitcoin ETFs. She remains optimistic about Bitcoin’s growth potential, emphasizing its role as a financial stabilizer in emerging markets amid economic fluctuations.

Bitcoin as a Financial Stabilizer

Wood highlighted Bitcoin’s significance in troubled economies facing currency devaluation, such as Nigeria. She views Bitcoin as a hedge against economic uncertainty, showcasing its surge during the US regional banking crisis. Bitcoin’s finite supply positions it as a unique asset in the financial domain, offering stability and growth opportunities across the globe.

The original post Cathie Wood doubles down on $1.5 million Bitcoin as institutional exposure looms was published on CryptoSlate.