© Reuters
Investing.com – Cathie Wood has raised her forecast for the . Thanks to the SEC’s long-awaited approval of a series of bitcoin ETFs on Wednesday, the CEO of ARK Invest said the token’s price could reach $1.5 million by 2030. This is an adjustment compared to its previous forecasts which anticipated $1 million by the same deadline.
“We believe the likelihood of a bullish scenario has increased with the SEC’s approval,” Ms. Wood said.
Even Wood’s bearish outlook is more than five times the current price of the world’s largest crypto. She said the price could reach $258,500 in a bearish scenario. His base case scenario is for the token to reach $682,800.
“You can see the building blocks, you can see how conservative we are in terms of those building blocks,” Wood said. “This is a big idea. It is the first global, decentralized, digital, rules-based monetary system – critical – in history.”
ARK Invest and 21 Shares are among 11 companies approved by the SEC for a bitcoin ETF product, alongside investment giants such as BlackRock (NYSE:), Invesco and Fidelity.
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