Cathie Wood Reaffirms Bitcoin Price Forecast Above $1 Million

By 2030, the price of the leading cryptocurrency will exceed $1 million, according to ARK Invest founder and CEO Cathie Wood, who made the statement on Bloomberg TV.

In January, she predicted that Bitcoin could reach $1.5 million by this time frame under a bullish scenario. In November, she reiterated this claim, noting that even under a base case, the price would hit $650,000.

Wood acknowledged that the asset has a “long way to go” to reach such valuations from its recent peak of $108,000. However, she believes that growth in 2025 will be accelerated by a relaxation of regulations under the administration of U.S. President-elect Donald Trump.

Another crucial factor, according to the ARK Invest head, is the limited issuance of the first cryptocurrency at 21 million coins, of which more than 19.5 million have already been mined.

She stated that this makes Bitcoin a “unique asset class” in terms of supply and demand balance.

“It is becoming even more scarce than gold. The difference is that when the price of the precious metal rises, production increases, and supply expands. This cannot happen with Bitcoin,” she emphasized.

Wood also anticipates a more business-friendly policy from Trump. As a result, this will lead to a wave of private company acquisitions.

The Federal Trade Commission (FTC) under Joe Biden’s administration hindered mergers and acquisitions with bureaucratic red tape, stated the ARK Invest head. Removing these barriers will “unlock hidden demand” from corporations for innovative startups and provide venture investors with opportunities for profit.

Back in November, Wood predicted an influx of capital into cryptocurrencies and new technologies following the “changing of the guard” at the SEC and FTC.

Trump nominated former commissioner Paul Atkins, who is friendly to digital assets, as chairman of the securities market regulator.