© Reuters
Investing.com – Cathie Wood, CEO of ARK Invest, has been one of ARK Invest’s strongest supporters over the past few years. She made many predictions regarding the digital asset, which she predicts will reach $1 million.
Volatility and uncertainty have always characterized financial markets, as prices tend to fluctuate and regulation in this area remains hazy at best. However, the CEO of ARK Invest remains confident that the digital asset will reach incredible heights over the years.
In an interview with Bloomberg, Ms. Wood explains why she still believes in bitcoin’s bullish future. Instead of being discouraged by the uncertainty and volatility in the market, she says this trend has only strengthened her belief that bitcoin will hit $1 million. This echoes statements made by Ms. Wood in 2022, when she predicted an eight-year timeframe for the digital asset to reach $1 million.
Previously, Ms. Wood had pointed to the fact that more institutional investors would turn to the digital asset, which would propel it to $500,000 within five years. Furthermore, the fact that BTC offers investors protection from the government was also a major reason why the CEO made this prediction.
Bitcoin has consistently surpassed its previous all-time highs in every bull market and with one bull market predicted for 2024 and another for 2028, Mr Wood’s prediction could very well come true by 2030.
It is important to keep in mind, however, that if the digital asset were to reach $1 million per coin, its total market capitalization would exceed $20 trillion, which would make BTC more valuable than the entire market. of .