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Bitcoin Bull Run Isn’t Over: Cathie Wood Predicts $1.5 Million
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Bitcoin Bull Run Isn’t Over: Cathie Wood Predicts $1.5 Million

Jake Simmons
Jake Simmons
2 months ago
3 mins read
Bitcoin price prediction Cathie Wood

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In a fresh interview with Bloomberg, ARK Investment Management Founder and CEO Cathie Wood once again reaffirmed her ambitious price target for Bitcoin, predicting it could soar to $1.5 million per coin by the year 2030. Despite the recent market volatility and a pronounced “risk-off” environment, Wood remains steadfast in her conviction that the leading cryptocurrency will continue its long-term upward trajectory.

“Yes, it is our view,” Wood replied when asked whether she still expects Bitcoin to reach her stated price target. “I think right now we’re in a risk-off period generally. And if you’ve been watching Bitcoin, it’s almost been a leader in terms of risk on, risk off.”

Cathie Wood Still Calls $1.5 Million Bitcoin By 2030

According to Wood, on-chain analytics indicate that Bitcoin is currently “in the middle of a little bit more than halfway through a four-year cycle”—a reference to BTC’s historically repetitive 4-year cycle. She emphasized that “we think we’re still in a bull market” and expects “deregulation” in the United States to play a crucial role in encouraging more institutions to enter the asset class.

Wood further argued that institutional asset allocators “have to have a point of view on this new asset class” and that incorporating Bitcoin into portfolios will likely improve risk-adjusted returns.

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Amid a broader market sell-off, Wood suggested a “rolling recession” scenario might already be unfolding. She cited rising concern over job security and an increasing savings rate as evidence: “We see the saving rate going up. We see the velocity of money coming down, and we do think we’ll see one or two negative quarters.”

She maintained that such economic stress could compel the Federal Reserve to reverse course later this year: “We wouldn’t be surprised to see two or three cuts. […] We think inflation’s going to surprise on the low side of expectations.”

Wood pointed to declining gasoline prices, egg prices, and rents as signals that inflation may be cooling faster than many expect, granting the Fed “more degrees of freedom in the second half of this year.”

Turning to regulation, Wood sounded notably optimistic about the “easing regulatory environment” around cryptocurrency. She highlighted the US Securities and Exchange Commission’s (SEC) approach to meme coins, noting that by “declaring these meme coins not securities”, the regulators have essentially said, “Buyer beware […] We think most of them are not going to be worth very much. […] What we think will happen is […] there’s nothing like losing money for people to learn.”

However, Wood underscored that Bitcoin, Ethereum, and Solana are core assets with “use cases […] multiplying” and likely to remain integral in the crypto ecosystem, in stark contrast to the “millions of meme coins” she believes will eventually lose their value.

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Wood also discussed her investment thesis for Robinhood and Coinbase, revealing that ARK views both companies as frontrunners in the battle for digital wallet dominance. She compared digital wallets to credit cards, suggesting “most of us don’t have very many credit cards”—and, by extension, most users will not hold more than a few digital wallets.

Additionally, she drew attention to the rise of tokenization, noting that BlackRock’s interest in tokenizing assets is a signal that large-scale players envision a “complicated […] new world” in capital formation. She also cited emerging markets as a key terrain where stablecoins and Bitcoin already serve as backstops to protect purchasing power from currency devaluation: “If you go to emerging markets […] they are using Bitcoin […] but also stablecoins, which is effectively the dollar as backstops to their purchasing power and wealth.”

Cathie Wood remains undeterred by short-term fluctuations or market jitters. While reaffirming her high-profile bets on Tesla, Bitcoin, and disruptive technologies like artificial intelligence, she reiterated her overarching thesis: innovation and blockchain-based platforms will continue to drive deflationary forces and create new opportunities for growth. “We have been known for our Tesla call and our Bitcoin call. […] I would add in AI platforms as a service company like Palantir.”

At press time, BTC traded at $83,322.

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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Reason to trust

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