ARK CEO Cathie Wood: $1m Bitcoin by 2030
Cathie Wood stands strong by her belief that Bitcoin could become a million-dollar asset within the next decade. In an interview with Bloomberg, she referenced ARK Invest’s report from months ago and encouraged investors to consider this figure as realistic despite its ambitious sound.
ARK dives into the force behind Bitcoin’s success, estimating its potential market cap in 2030. And while $1 million Bitcoin might seem lofty, this ambitious target is backed by a solid fundamental foundation.
The ARK report below predicts an exponential growth for Bitcoin (BTC), projecting a market cap of $21.5 trillion and that Bitcoin will become a common investment vehicle alongside gold as well as processing 25% of US banking transactions.
With a million dollar target in sight, the stock-2-flow (S2F) model and Elliott Waves offer double assurance that this goal is within reach, although there are many who disregard the S2F model, and TA altogether.
ARK’s optimistic projection of Bitcoin reaching $1 million in the next decade may be grounded in technical analysis, but with such an ambitious timeline there are valid questions to ask. Can established models like S2F and Elliott wave accurately predict a future more than 10 years away?
Bitcoin to $1 Million by 2030?
Bitcoin trading platform BitMEX ex-CEO, Arthur Hays, has recently made the prediction that Bitcoin will reach a million dollars in the same timeframe. Entrepreneur Anthony Pompliano, Pomp, took the stage at the Bitcoin 2022 event to say that Bitcoin could reach $1,000,000 in the near future.
And Bitcoin OG and MicroStrategy chairman Michael Saylor doubled down on his bullish price predictions in a CNBC interview: ‘It’s not going to zero. If it’s not going to zero, it’s going to a million because it’s obviously better than gold at everything that gold wants to be.’
And before he became public enemy number one with Bitcoin Maximalists, Raoul Pal also said he believed Bitcoin would reach $1million but by 2025, a huge 5 years before Cathie Wood’s prediction.
Up and to the Right
Prominent analysts like Cathie Wood, Arthur Hayes, Michael Saylor and many more before them put their reputations on the line by making exciting Bitcoin price predictions.
There’s no Bitcoin maximalist that doesn’t think the Bitcoin price will reach the heady heights of a million dollar Bitcoin, but putting a timescale on it is risking their reputation.
As Michael Saylor said, if it isn’t going to xero, it’s going up and to the right. And it won’t stop at a million dollars.