According to Bloomberg, ARK Invest CEO Cathie Wood recently stated that as part of the Department of Government Efficiency, Musk will be effective in his new initiative to reduce the size and scope of government because he understands where regulatory pressure and obstacles come from. In addition, Cathie Wood reiterated her view that "Bitcoin could exceed $1 million by 2030," stating that Bitcoin is becoming scarcer than gold. The difference between gold and Bitcoin is that when the price of gold rises, production increases and supply grows faster, which does not happen with Bitcoin.