Cathie Wood, CEO of ARK Invest, reiterated her bold prediction that Bitcoin (BTC) will surpass $1 million by 2030, citing the cryptocurrency’s unique scarcity advantage over traditional assets like gold.
Cathie Wood Reaffirms Her $1 Million Bitcoin Prediction by 2030
In a report published by Bloomberg, Wood emphasized that Bitcoin’s fixed supply of 21 million coins gives it an advantage over gold as a store of value.
When the price of gold rises, he noted, mining companies typically increase production, increasing supply and potentially reducing price momentum.
In contrast, Bitcoin's supply is limited by its underlying code, making it immune to such supply fluctuations.
“Bitcoin’s scarcity is intrinsic and mathematical, and provides a level of certainty that gold cannot match,” Wood said.
This forecast is in line with ARK Invest’s bullish stance on digital assets, supported by increasing institutional adoption and the perception of Bitcoin as a hedge against inflation and economic uncertainty.
While some analysts have been skeptical of such a high price target, Wood has consistently defended his view by emphasizing Bitcoin’s resilience and ability to disrupt traditional financial systems.
*This is not investment advice.
