Jan 11, 2024

ARK Invest CEO Cathie Wood said on CNBC Thursday that bitcoin (BTC), the world's largest cryptocurrency by market cap, could reach $1,500,000 in price by 2030 in a bullish scenario, raising her estimate by 50% from a previous prediction of $1 million.

Video transcript

Kathy Wood said this morning, quote, our base case is the $600,000 range. We think the probability of the bull case has increased with the sec approval. This is a green light. Our bull case is 1.5 million by 2030 quote, what do you think of Cathy's comments there? Well, she's always been an advocate for Bitcoin and for crypto and Blockchain at that. Um I don't think that kind of speculation is, is possible. In other words, you know, to actually peg a price um of, of that kind of appreciation would mean that the American economy collapsed in my view. So that is not a good, a good speculation. Bitcoin is an old, is a hedge against um, the world's economy. If you want to look at it that way, that's how some people look at it. I certainly own a waiting in it for that reason as I do gold. But for Bitcoin to appreciate that quickly to that price would mean that the US economy had somehow faltered in my view. And so, no, I don't agree with that price point.

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