“Bitcoin could rise to over 200 million yen by 2030” ARK CEO Wood

10 months ago 45

Bitcoin price outlook

Cathie Wood, CEO of ARK Invest, which received approval to list a spot ETF for the crypto asset (virtual currency) Bitcoin (BTC) in the United States, appeared on CNBC’s “Squawk Box” on the 11th and discussed the future of the Bitcoin price. The outlook for the future has been reiterated.

In the basic scenario, it is predicted that 1 BTC will rise to the level of 600,000 dollars (approximately 87.2 million yen) by 2030. In a bullish scenario, the company said it could rise to $1.5 million (approximately 210 million yen) by the same year.

What is an ETF?

Abbreviation for “Exchange Traded Fund”, meaning “exchange traded fund”. Refers to investment trusts listed on financial instruments exchanges, where a wide range of financial products, not just virtual currencies, are traded.

Bitcoin physical ETFs attract a lot of attention from investors because they actually own and manage Bitcoins.

Virtual currency glossary

Wood also predicted the price of Bitcoin in December of last year. At the time, the company said that if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission (SEC), it could provide a “definitive seal of approval” to institutional investors considering investing in cryptocurrencies. There is.

On top of that, he said that the inflow of institutional investor money will be the biggest factor in increasing the price of Bitcoin, with the price rising to about $650,000 in the basic scenario and $1 million to $1.5 million in the bullish scenario. He was showing his point of view.

Although there are differences in the detailed figures, we are predicting the same price this time as in December. The fact that a Bitcoin spot ETF was actually approved by the SEC seems to have given more confidence to this view.

In addition, as of December, the company had said that it would take “5 to 10 years” to reach these prices, but this time it has clarified the timing by saying that the price forecast is for 2030.

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“Bitcoin has become the first decentralized, regulated, global digital financial system,” Wood said.

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Bitcoin ETF special feature

Forecasts associated with ETF approval

Once Bitcoin ETFs become available for trading, investors will be able to invest in them from their brokerage accounts without having to hold Bitcoin directly. It has been hoped that this will make it easier for individual investors and large institutional investors to access virtual currencies, leading to an influx of new capital.

The SEC has previously disapproved all Bitcoin spot ETFs from the perspective of investor protection, but it approved it for the first time on the 11th Japan time. Recently, there has been an increase in forecasts of capital inflows and prices.

connection: CEO Cathie Wood responds to SEC Chairman Gensler’s warning about Bitcoin

Tom Lee, a well-known analyst at Fundstrat Global Advisors, also appeared on Squawk Box on the 10th. At that time, he expressed the view that the Bitcoin price could reach $150,000 (approximately 21.8 million yen) in the next 12 months, and $500,000 (approximately 72.8 million yen) in five years.

connection: “Bitcoin could rise to 72.8 million yen in 5 years,” famous analyst Tom Lee predicts the price