Cathie Wood, the head of ARK Invest, is super bullish on Bitcoin. She thinks it could hit $1 million by 2030!
Why $1 Million Bitcoin?
Wood’s prediction isn’t just a wild guess. She believes a few key things will drive Bitcoin’s price sky-high:
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Regulatory Changes: She’s betting that changes under the Trump administration, particularly at the FTC, will make it easier for companies to merge and acquire each other. This will unleash a wave of investment and boost the overall market. Think more money flowing around, leading to higher Bitcoin prices.
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Bitcoin’s Scarcity: Unlike gold, where increased demand leads to more mining, Bitcoin has a fixed supply of only 21 million coins. This means it’ll only get rarer over time, making it more valuable. Wood says it’s becoming even scarcer than gold!
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Recent Price Rally: Bitcoin’s recent price surge (over $108,000 at one point) further supports her prediction.
Elon Musk’s Role
Wood also thinks Elon Musk’s new focus on streamlining government could be a game-changer. She believes Musk’s experience battling regulations will help create a more innovation-friendly environment, indirectly benefiting Bitcoin.
High-Risk, High-Reward
Wood’s investment strategy is known for its high risk and high potential reward. Her ARK Innovation ETF has seen its share of ups and downs, but her past predictions (like those about Tesla) have paid off big for investors. Currently, Bitcoin is trading a bit lower, around $97,268.
