Cathie Wood predict Bitcoin’s price to reach $1 million, highlighting crypto’s resilience as a hedge against inflation and counterparty risk.
Cathie Wood, the CEO of Ark Invest and a renowned investor made a daring Bitcoin price forecast. According to Wood’s analysis, the flagship cryptocurrency’s current price of $600,000 could skyrocket to an astounding $1 million by 2030.
Cathie Wood is optimistic about Bitcoin.
Despite the regulatory obstacles and lawsuits aimed at crypto platforms operating in the United States, Wood maintains an upbeat disposition. She sees Bitcoin as an ideal hedge against inflation and counterparty risk, emphasizing its distinctive characteristics.
Wood defines the creation of Bitcoin as a “very big idea” and refers to it as the “first global, private, no government oversight, digital, rule-based monetary system.”
This is not the first time that Wood has made audacious Bitcoin price predictions. In an interview, she predicted that Bitcoin would reach $500,000 by 2026. Early in 2022, she elevated the bar, establishing a goal of $1 million by 2030.
Wood’s unwavering confidence originates from its ability to withstand financial crises, as evidenced by the recent banking turmoil in which Bitcoin’s price remained resilient, acting as a “flight to safety,” according to Woods.
Woods Positive Regarding Coinbase And Regulations
Coinbase is the dominant cryptocurrency exchange in the United States, and Wood has also expressed bullish sentiments regarding it. In light of recent legal challenges encountered by Coinbase and the Binance exchange in the wake of the U.S. SEC’s wild crypto crackdowns, Wood distinguished between the two, claiming that the crypto heavyweights did not belong in the same category.
In addition, Wood maintained her optimism regarding COIN’s stock price, as evidenced by her recent equity purchases. The 67-year-old investor was quoted as saying regarding the ongoing proposals and legislation presented by Congress to legitimize cryptocurrencies, including stablecoins:
We now have the Judicial system and the Legislative system getting involved in this topic and I think it’s great”
Moreover, Woods believed that recent events would eventually pave the way for greater regulatory clarity on digital assets and registration pathways for businesses with the relevant authorities.
