Cathie Wood expects Bitcoin to reach $1.5 million in 2030

For the tech pope, by injecting new liquidity into the market, spot bitcoin ETFs will explode the price of the cryptocurrency queen.

One more Bitcoin price prediction. This time it comes from Cathie Wood, tech pontiff and head of pro-bitcoin investment fund Ark Invest. Last week, his fund launched its first spot bitcoin ETF on the US market after being verified by the US stock market watchdog.

The investor is one of those who believe in the impact of these new products on the price of Bitcoin. The products, which were listed on Wall Street for two days last week, saw a cumulative trading volume of more than $7 billion.

While Standard Chartered expects Bitcoin to reach $100,000 in 2024, Cathie Wood predicts that Bitcoin will reach $1.5 million in 2030 in the event of a bull cycle. This is due to a combination of several factors: spot bitcoin ETFs, a higher hashrate (a measure of the computing power of the bitcoin blockchain), or even an increase in the number of bitcoin holders in the long term.

Attention

Even in the event of a bear cycle in 2030, Cathie Wood expects Bitcoin to be between $258,500 and $682,800. Despite the euphoria surrounding these new financial products, experts have pointed to “unexpected” risks to the bitcoin blockchain and its cryptocurrency.

Bitcoin, the leading cryptocurrency in terms of capitalization, is very often the subject of speculation about its future price. But investors must remain very cautious. In fact, Bitcoin remains highly volatile: after going through a strong period of turbulence in 2022, the asset gained 160% during 2023. In 2024, after spot Bitcoin ETFs, investors now have their eyes on the Bitcoin halving that will occur. in April 2024. Like every 4 years, this event reduces the number of new bitcoins circulating in the market, making them more scarce.

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