Female stock goddess Cathie Wood: Bitcoin’s 2030 target price is $3.8 million

Cathie Wood, founder of Ark Investment, today significantly raised the bull market target price of Bitcoin in 2030 from US$1.5 million to US$3.8 million.

Cathie Wood, the founder of ARK Invest, known as the "Female Stock Goddess", has been optimistic that Bitcoin will exceed US$1 million in 2030 many times in recent years.

As the Bitcoin spot ETF was approved for listing in the United States at the beginning of the year, pushing Bitcoin to start a new bull market, she raised the BTC target price to an astonishing US$3.8 million today, which is equivalent to nearly 60 times higher than the current price of US$64,523!

According to "BusinessInsider" reports, Cathie Wood said at the Bitcoin Investor Day Summit in New York today (23rd) that Bitcoin spot ETFs will lead to large demand from institutions and higher portfolio allocations. She will update the January The target price is $1.5 million, a substantial increase of $2.3 million.

Female stock goddess: Bitcoin’s 2030 target price is $3.8 million

She said that massive institutional demand and a higher portfolio allocation (as little as 5%) can significantly push BTC prices higher.

“Last year we made a bullish case for Bitcoin with a price target of $1.5 million. The U.S. Securities and Exchange Commission (SEC) had given the green light to institutions. The basis of the analysis we did was based on where institutional investors would allocate their portfolios. A little over 5% goes to Bitcoin, which alone would add $2.3 million to the price forecast I gave you earlier.”

This month, Wood said in an interview that she believed the initial target of $1 million in 2030 was too conservative and raised the target price to $1.5 million. In February, Ark Investment was optimistic in its annual report that under the best-case scenario, if 19.4% of the world's investable assets of US$250 trillion were allocated to Bitcoin, the price of Bitcoin would reach US$2.3 million.

Optimistic about April halving becoming another price catalyst

Sister Mu also pointed out at the meeting that she expects the fourth halving coming in April to have a similar bullish effect as the previous halvings. In the 12 months after the three halvings in 2012, 2016 and 2020, the price of Bitcoin increased by 8069%, 284% and 559% respectively.

Wood expressed his confidence in Bitcoin at the meeting, hailing Bitcoin as the "financial highway" and emphasizing its importance to emerging markets.

“We think Bitcoin still has a long way to go, and we’re in the beginning stages of truly building an internet-native financial ecosystem and disintermediating fee earners.”