Cathie Wood, the Bitcoin enthusiast, predicts that ARK Invest’s price target for BTC will far exceed $1 million.

Bitcoin (BTC) is on track to reach $1 million before 2030, according to Cathie Wood, the CEO of asset manager ARK Invest. In an interview with the New Zealand Herald, Wood discussed the growing institutional involvement in Bitcoin and how it has transformed since the launch of the first spot exchange-traded funds (ETFs) in the United States. She emphasized that even ARK itself has had to reassess its bullish stance on BTC due to the interest and momentum behind the spot ETFs. Previously, the firm’s price target was set at $1 million per bitcoin by 2030, but Wood now believes that this target is too conservative. With the recent regulatory approval from the Securities and Exchange Commission, she expects institutional involvement to increase significantly, leading to a higher price for BTC. However, she did not provide an exact figure for the new price target. As Bitcoin approaches new all-time highs, market participants anticipate a “wild week” with continued price discovery and ETF inflows driving the market. Despite the excitement, readers are advised to conduct their own research before making any investment decisions.