Bitcoin Will Hit $1 Million by 2030, Claims Ark Invest CEO Cathie Wood
Cathie Wood believes Bitcoin will hit $1 million by the end of the decade.
She thinks Bitcoin should be adopted by countries plagued with inflation as an insurance policy due to its resilient network.
Cathie Wood, the visionary CEO of ARK Invest and a prominent advocate of Bitcoin, has re-affirmed her prediction that the price of BTC will reach $1 million by 2030. This forecast comes amidst Bitcoin’s sustained upward trend.
According to Wood, the Bitcoin network has remained unscathed, despite facing various challenges such as the bear market, the crypto winter, and the downfall of several prominent companies. The network has operated as designed – decentralized and transparent.
Wood believes that her forecast is actually modest, as the findings of ARK Invest’s Big Ideas 2023 report indicate that Bitcoin has the potential to reach even higher prices over the next seven years.
Bitcoin As A Solution For Wealth Preservation?
Cathie Wood believes that Bitcoin presents opportunities for wealth preservation for individuals of all financial backgrounds. She cites the global phenomenon of hyperinflation causing currency collapses and the need for a fallback, or insurance policy, such as Bitcoin.
She also believes that high-net-worth individuals will benefit from using Bitcoin as a hedge against the confiscation that can occur from inflation. If successful, this could result in the value of one Bitcoin reaching $1 million by the end of the decade.
The avid Bitcoin supporter highlights that the token has consistently outperformed other assets over the long term, making it the best-performing asset in any class. Its durability and stability make it a strong choice for wealth preservation.