Cathie Wood of ARK Invest has revised her prediction that the price of Bitcoin will exceed $1 million by 2030, citing the introduction of spot ETFs in the US and the increase in its value.
Furthermore, Wood maintains that the advent of spot ETFs has had a substantial impact on the potential of Bitcoin, prompting her to reassert her confidence in its forthcoming expansion.
Note that the approval of spot ETFs by the SEC is considered a turning point that accelerates ARK’s projections. Additionally, Wood notes that major financial institutions have not yet begun trading Bitcoin, which implies that the price may increase even further once they do so.
Experts predict a “wild week” of trading as Bitcoin approaches all-time highs, speculating that the ongoing influx of ETF investments may contribute to Bitcoin’s price discovery.
At present, Bitcoin hit another all-time high of over $72,000 and it is trading at around $71,450. The largest crypto by market cap surpassed silver in total value.
The dynamic nature of this situation and Wood’s revised prediction indicate a positive trajectory for Bitcoin, suggesting that it may attain unparalleled heights in the future.
