2024-03-23 08:32:20
Cathie Wood, founder of Ark Investment, today significantly raised Bitcoin’s 2030 bull market target price from $1.5 million to $3.8 million.
(Previous summary: Female stock goddess: Bitcoin’s goal of $1 million in 2030 is “too conservative”)
(Background supplement: 25% of the female stock god’s net worth is “betting on BTC”: spot ETFs will push Bitcoin to reach US$1.5 million in 2030)
Cathie Wood, the founder of ARK Invest, known as the “Female Stock Goddess”, has been optimistic that Bitcoin will exceed US$1 million in 2030 many times in recent years.
As the Bitcoin spot ETF was approved for listing in the United States at the beginning of the year, pushing Bitcoin to start a new round of bull market, she will BTC The target price was raised to an astonishing US$3.8 million, which is equivalent to nearly 60 times higher than the current price of US$64,523!
According to “Business Insider”reportCathie Wood said at the Bitcoin Investor Day Summit in New York today (23rd) that Bitcoin spot ETF will lead to large demand from institutions and higher portfolio allocation, and she will update the target price of US$1.5 million in January. , a substantial increase of $2.3 million.
Female stock goddess: Bitcoin 2030 target price is $3.8 million
She said that large institutional demand and higher portfolio allocation (as little as 5%) can significantly push up the price of BTC.
“Last year we made a bullish case for Bitcoin, with a price target of $1.5 million. The U.S. Securities and Exchange Commission (SEC) has given the agency the green light.
The basis of our analysis is that institutional investors will allocate a little over 5% of their portfolios to Bitcoin, which alone would add $2.3 million to the price forecast I gave you earlier. “
This month, Wood said in an interview that she believed the initial target of $1 million by 2030 was too conservative and raised the price target to $1.5 million. In February, Ark Investment was optimistic in its annual report that under the best-case scenario, if 19.4% of the world’s investable assets of US$250 trillion were allocated to Bitcoin, the price of Bitcoin would reach US$2.3 million.
Extended reading: Cathie Wood, the female stock god ARK’s blockbuster report: Bitcoin is looking at $2.3 million, which will subvert common sense
Optimistic about April halving becoming another price catalyst
Sister Mu also pointed out at the meeting that she expects the upcoming fourth halving in April to have a similar bullish effect as the previous halvings. In the 12 months after the three halvings in 2012, 2016 and 2020, the price of Bitcoin increased by 8069%, 284% and 559% respectively.
Wood expressed his confidence in Bitcoin at the meeting, hailing Bitcoin as the “financial highway” and emphasizing its importance to emerging markets.
“We believe that Bitcoin still has a long way to go, and we are in the beginning stages of truly building an internet-native financial ecosystem and disintermediating fee earners.”
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Tags: Cathie Wood Female Stock God Ark Investment Institution Bitcoin Bitcoin Spot ETF Halving Bull Market
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