Ark Investment: Bitcoin spot ETF approval will push price over $1.5 million by 2030

Ark Invest founder Cathie Wood traded on the first day after the Bitcoin spot ETF was approved, and in an interview with CNBC predicted that the future price of Bitcoin will fall between $600,000 and $1.5 million.

This article is not investment advice.

Bitcoin Price Could Reach $1.5 Million by 2030

During an interview on the first day of trading after the Bitcoin ETF approval, renowned investor Cathie Wood stated that, according to the company's optimistic forecast, the price of Bitcoin could reach $1.5 million by 2030. This is especially possible after the SEC approves a Bitcoin spot ETF.

Admitting that the approval of the ETF was due to the failure of the Grayscale lawsuit, Gary Gensler clarified that it does not mean an endorsement of Bitcoin.

Wood believes that Bitcoin will be the first global, decentralized, digital, and rule-based currency system, representing a significant innovation.

Even if the $1.5 million prediction cannot be met as expected, Wood also predicts a more conservative scenario with a price level of $600,000. However, this would still require the BTC market cap to exceed $10 trillion, reaching a scale equivalent to that of the gold market.

Compilation of BTC Price Predictions by Various Institutions

Many institutions have recently made predictions on the long-term price changes following the approval of the Bitcoin spot ETF by the SEC:

• VanEck: Reaching $100,000 by the end of 2024.
• Matrixport: Breaking $60,000 by April 2024, rising to $120,000 by the end of the year.
• CryptoQuant: Projecting $160,000 by 2024.
• Bernstein: Climbing to $150,000 by 2025.
• Standard Chartered Bank: Increasing the prediction to $200,000 for Bitcoin price by 2025.
• Glassnode: Bitcoin spot ETF expected to bring in $70 billion in capital in the long term.

Overall, almost all institutions predict that the price of Bitcoin could surpass $100,000 within the next two years.

This article is not investment advice.