Following news that Ark Invest has made investments into Grayscale\u2019s heavily discounted Bitcoin fund, CEO Cathie Wood is doubling down on a bold bet that the top cryptocurrency will reach $1M per coin by 2030.<\/p>\n
Is such a lofty price prediction realistic, considering the recent collapse of the crypto market? And can Wood\u2019s call be trusted after the ARK Innovation ETF\u2019s decline that is on par with Bitcoin? Here are all the factors behind the $1M per BTC target in less than a decade.<\/p>\n
Cathie Wood says Bitcoin will be worth 1 million per coin by 2030 https:\/\/t.co\/GQFkjlb8vc<\/a> pic.twitter.com\/L8mw8u0SZO<\/a><\/p>\n \u2014 Bloomberg Wealth (@wealth) November 22, 2022<\/a><\/p>\n\n In an interview with Bloomberg<\/a>, Ark Invest CEO Cathie Wood was asked about her past prediction that Bitcoin would make it to a price of $1M per coin by the year 2030. Wood, undeterred by the recent bear market in crypto and equities, recommitted to the bet.<\/p>\n Wood says that the recent fallout from FTX and other top crypto firms only helps to \u201cbattle test\u201d the \u201cinfrastructure and the thesis\u201d of the first-ever cryptocurrency. She adds that Bitcoin comes out of this \u201csmelling like roses.\u201d<\/p>\n The comment is perhaps in reference to how third parties were heavily at fault in the recent collapse, while the thesis for a decentralized future sans any intermediaries has only been further proven.<\/p>\n While Wood herself isn\u2019t skeptical about Bitcoin, she says the situation may cause institutions to hesitate before entering, but ultimately could be \u201cmore comfortable\u201d investing in BTC.<\/p>\n\n Bitcoin reaching $1M by 2030 would be 6,000% | Source: BTCUSD on TradingView.com<\/a><\/p>\n Take the Ark Invest CEO\u2019s comments with a grain of salt. While her idea that bear markets battle-test Bitcoin and proves the network more resilient and therefore more valuable in each cycle, her picks haven\u2019t been winners as of late.<\/p>\n The ARK Invest Innovation ETF is down roughly 79% from its peak. But Bitcoin is also down 79% from its all-time high set in late 2021 and has bounced back several times from worse drawdowns.<\/p>\n At a price of $1M per BTC, the top crypto asset by market cap would have to climb more than 6,000% from the current bear market low in less than eight years. Bitcoin has grown by nearly 60,000% in the last eight years, so anything is possible \u2014 despite being improbable.<\/p>\n Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n Featured image from iStockPhoto, Charts from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Following news that Ark Invest has made investments into Grayscale\u2019s heavily discounted Bitcoin fund, CEO Cathie Wood is doubling down on a bold bet that the top cryptocurrency will reach $1M per coin by 2030.<\/p>\n Is such a lofty price prediction realistic, considering the recent collapse of the crypto market? And can Wood\u2019s call be trusted after the ARK Innovation ETF\u2019s decline that is on par with Bitcoin? Here are all the factors behind the $1M per BTC target in less than a decade.<\/p>\n Cathie Wood says Bitcoin will be worth 1 million per coin by 2030 https:\/\/t.co\/GQFkjlb8vc<\/a> pic.twitter.com\/L8mw8u0SZO<\/a><\/p>\n \u2014 Bloomberg Wealth (@wealth) November 22, 2022<\/a><\/p>\n In an interview with Bloomberg<\/a>, Ark Invest CEO Cathie Wood was asked about her past prediction that Bitcoin would make it to a price of $1M per coin by the year 2030. Wood, undeterred by the recent bear market in crypto and equities, recommitted to the bet.<\/p>\n Wood says that the recent fallout from FTX and other top crypto firms only helps to \u201cbattle test\u201d the \u201cinfrastructure and the thesis\u201d of the first-ever cryptocurrency. She adds that Bitcoin comes out of this \u201csmelling like roses.\u201d<\/p>\n The comment is perhaps in reference to how third parties were heavily at fault in the recent collapse, while the thesis for a decentralized future sans any intermediaries has only been further proven.<\/p>\n While Wood herself isn\u2019t skeptical about Bitcoin, she says the situation may cause institutions to hesitate before entering, but ultimately could be \u201cmore comfortable\u201d investing in BTC.<\/p>\n Bitcoin reaching $1M by 2030 would be 6,000% | Source: BTCUSD on TradingView.com<\/a><\/p>\n Take the Ark Invest CEO\u2019s comments with a grain of salt. While her idea that bear markets battle-test Bitcoin and proves the network more resilient and therefore more valuable in each cycle, her picks haven\u2019t been winners as of late.<\/p>\n The ARK Invest Innovation ETF is down roughly 79% from its peak. But Bitcoin is also down 79% from its all-time high set in late 2021 and has bounced back several times from worse drawdowns.<\/p>\n At a price of $1M per BTC, the top crypto asset by market cap would have to climb more than 6,000% from the current bear market low in less than eight years. Bitcoin has grown by nearly 60,000% in the last eight years, so anything is possible \u2014 despite being improbable.<\/p>\n Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-12545","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=12545"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12545\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12545"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Cathie Wood: Yes, Bitcoin Will Hit $1M By 2030<\/h2>\n
Is 6,000% ROI Within 8 Years Possible From Here?<\/h2>\n
Cathie Wood: Yes, Bitcoin Will Hit $1M By 2030<\/h2>\n
Is 6,000% ROI Within 8 Years Possible From Here?<\/h2>\n