Cathie Wood, renowned Bitcoin advocate, projects ARK Invest’s BTC price target to soar “significantly beyond” $1 million.

Bitcoin (
BTC
) is expected 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 BTC and how it has impacted the price. She stated that the launch of the United States’ first spot exchange-traded funds (ETFs) has transformed Bitcoin and even ARK itself has had to reassess its bullish stance on the cryptocurrency. Previously, ARK’s price target was set at $1 million per BTC by 2030, but with the SEC’s approval of ETFs, Wood believes that target is too conservative. She mentioned that major wirehouses like Morgan Stanley and Bank of America have yet to join the institutional push, indicating that there is still room for growth in Bitcoin’s price. As Bitcoin reaches new all-time highs, market participants expect more price discovery and volatility in the coming week. However, readers should note that this article does not provide investment advice and risks should be assessed before making any decisions.