- ARK Invest CEO remains stubbornly bullish about her Bitcoin prediction and insists that BTC will trade at $1 million by 2030.
- Wood claims that institutional investors are still interested in the leading digital asset despite being 70 percent off its peak price.
The CEO and founder of ARK Invest, an investment management company, Cathie Wood, has maintained her prediction about the price of the foremost digital asset, BTC. In a recent Bloomberg interview, Wood confirmed that ARK Invest still holds on to the forecast that BTC would trade at $1 million.
Wood expects the BTC price to reach $1 million within the next decade. If that happens, BTC’s price would have soared by 4,300 percent from its current price. Current on-chain data shows that BTC is exchanging hands at $20,822.
Institutional investors’ Bitcoin adoption
The ARK Invest CEO also spoke about institutional investors’ adoption of Bitcoin. Wood claimed that this group of investors has become more interested in having BTC in their investment portfolio as its price is relatively low right now. BTC’s price is nearly 70 percent off its peak in November 2021.
It seems institutions are making their moves. They see the current $20,000 price level as an investment opportunity, having seen it trade at $70,000.
Wood further claimed institutions became more interested in Bitcoin following a 2018 report by Cambridge Associates.
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