Cathie Wood, CEO of ARK Invest, believes that Bitcoin’s price could still surge to $1.5 million.
Institutional Investors Driving Growth
Wood argues that institutional investors are increasingly recognizing Bitcoin as a new asset class with low correlation to traditional assets. This shift is expected to drive significant demand and price appreciation.
Limited Supply and Growing Demand
With Bitcoin’s supply capped at 21 million, Wood believes that the increasing demand from institutional investors will lead to a rapid increase in price.
Current Price and Outlook
As of writing, Bitcoin is trading at $64,908, a 3.85% increase in the last 24 hours. Wood’s prediction of a $1.5 million price target by 2027 still has time to play out, according to her.
