Cathie Wood, CEO of ARK Investment Management, has projected that Bitcoin’s price could reach $1.5 million by 2030.
Wood attributes this potential surge primarily to increasing institutional adoption and Bitcoin’s inherent scarcity.
Institutional investors are reportedly viewing Bitcoin as a distinct asset class, separate from traditional stocks or bonds, for portfolio diversification purposes.
Corporate entities, including Arkham, Strategy, and Metaplanet, are actively accumulating significant Bitcoin reserves.
This corporate buying activity is tightening the available supply of Bitcoin, contributing to upward price pressure.
Wood characterizes Bitcoin as the first entirely new asset class to emerge since the 1600s.
She highlights its unique properties: decentralization, a verifiably limited supply, and low correlation with traditional financial assets.
While acknowledging Bitcoin’s historical volatility, Wood notes that growing institutional participation is reducing price fluctuations.
This increased institutional involvement is also improving overall market stability and liquidity.