By 2030, the price of the first cryptocurrency will exceed $1 million. ARK Invest founder and CEO Cathie Wood said this on Bloomberg TV.
In January, she predicted that Bitcoin would reach $1.5 million by this time mark if the bullish scenario were realized. In November, she repeated the claim, noting that even the base estimate would reach $650,000.
Wood acknowledged that the asset has a “long way to go” to similar quotes from its recent high of $108,000. But, in her opinion, growth in 2025 will be accelerated by the easing of regulation from the administration of US President-elect Donald Trump.
The head of ARK Invest called the limited issue of the first cryptocurrency of 21 million coins, of which more than 19.5 million have already been mined, another important factor.
According to her, this makes Bitcoin a “unique asset class” in terms of the balance of supply and demand.
Wood also expects more business-friendly policies from Trump. As a result, this will lead to a wave of purchases of private companies.
The Federal Trade Commission (FTC) under the Joe Biden administration has hampered mergers and acquisitions with bureaucratic red tape, the head of ARK Invest said. Removing barriers will “unleash pent-up demand” from corporations for innovative startups and open up opportunities for venture investors to profit.
Let us recall that in November Wood predicted an influx of capital into cryptocurrencies and new technologies after the “changing of the guard” in SEC and FTC.
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Source: Cryptocurrency
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