Bitcoin could reach $1.5 million by 2030: Ark CEO Wood | CoinDesk JAPAN

Cathie Wood, CEO of asset management giant ARK Invest, told CNBC on the 11th that Bitcoin (BTC) could reach $1.5 million by 2030 in a bullish scenario, contradicting her previous forecast. Increased forecast by 50% from $1 million.

“With this approval from the SEC, we think the probability of a bullish scenario has increased. It’s a green light,” Wood said.

He also said that under the bearish scenario, the stock would rise to $258,500 and under the base scenario, it would rise to $682,800. The factors contributing to the bullish scenario include an increase in the hash rate, the presence of long-term holders, and an increase in the number of addresses with non-zero balances compared to previous downturns. The SEC’s approval of Bitcoin ETFs appears to be fueling bullish sentiment.

Ark’s Bitcoin ETF application was also approved by the SEC on the 10th. On the 11th, Bitcoin briefly exceeded $49,000 for the first time since December 2021. However, it has since given up all its gains and is trading around $46,300 at the time of writing.

Ark is not the only company predicting a huge rise in Bitcoin prices. Standard Chartered Bank compares the Bitcoin ETF to America’s first gold exchange-traded financial product (ETP), which was launched in November 2004, predicting that Bitcoin will rise to near $200,000 by the end of 2025. I predicted that it was possible.

Related article: Bitcoin ETF could receive $100 billion in inflows if approved: Standard Chartered

Gold ETP more than quadrupled over the next seven years.

｜Translation/Editing: CoinDesk JAPAN Editorial Department
｜Image: Cathie Wood CEO (CoinDesk)