According to COINOTAG News, ARK Invest’s CEO Cathie Wood recently reaffirmed her positive outlook on Bitcoin during a recent interview, asserting that the firm’s projection for 2030 remains intact despite ongoing market volatility. She articulated that the intrinsic value of Bitcoin is projected to reach approximately $650,000 by 2030. In an optimistic scenario, prices could surge between $1 million and $1.5 million.
ARK Invest first detailed these Bitcoin price forecasts in its comprehensive 2023 Big Ideas report, published in February. This analysis diverged from past projections, presenting three potential outcomes: the “base case” estimates Bitcoin could hit $682,800, while the “bear market” case suggests a drop to $258,500, and the enthusiastic “bull case” projects a remarkable ascent to $1.48 million.
Wood reiterated that Bitcoin, even at its current valuation, offers a robust investment opportunity. She highlighted that ARK was a pioneer among public asset management firms, making substantial investments in Bitcoin back when it was priced at just $250 in 2015. Furthermore, she linked Bitcoin’s historical performance to its halving cycles, anticipating that decreasing inflation rates coupled with halving events will continue to support Bitcoin’s price appreciation.