Cathie Wood Thinks Bitcoin Will Hit $650K by 2030, as Regulatory Relief and Unique Asset Behavior Drive Institutional Interest

Ark Invest's CEO attributes the surge in Bitcoin's price to two primary factors: regulatory relief on the horizon and Bitcoin's growing distinction from other assets.

Cathie Wood, the CEO of asset management giant Ark Invest, has once again shared her bullish prediction for Bitcoin’s future price.

In an interview with CNBC on Friday, Wood suggested that the apex cryptocurrency’s price could hit a base target of $650,000 by 2030. However, she also outlined an optimistic scenario in which Bitcoin could reach a price of $1.5 million.

Cathie Wood's Bullish Bitcoin Prediction

Cathie Wood, who is known for her long-term bullish stance on Bitcoin, first invested in the digital asset in 2015 when its price was around $250. Since then, she has consistently highlighted Bitcoin’s potential for massive gains.

In the recent interview, Wood attributed the surge in Bitcoin’s price to two main factors: the prospect of regulatory relief and Bitcoin’s growing distinction from other assets.

She explained that institutional investors are now showing more interest in Bitcoin because it behaves differently from traditional assets, such as stocks and bonds, which makes it an attractive addition to their portfolios.

Moreover, Ark Invest, which was the first public asset manager to gain exposure to Bitcoin at $250 in 2015, continues to hold a bullish outlook for the cryptocurrency.

Wood's prediction aligns with Ark Invest's broader optimism, which includes the expectation of the upcoming Donald Trump administration to introduce clearer regulations for the cryptocurrency industry in the U.S.

With the conclusion of current SEC Chair Gary Gensler's term, the firm anticipates a more crypto-friendly SEC and a shift away from "regulation by enforcement." This could pave the way for the regulatory clarity needed to spur further institutional investment.

The impact of Bitcoin as an institutional asset class will be a key topic of discussion at Benzinga's upcoming Future of Digital Assets event on Nov. 19.