Cathie Wood Doubles Down on Her Bitcoin (BTC) Price Target of $1.5 Million By 2030

In a fresh interview with Bloomberg, ARK Investment Management Founder and CEO Cathie Wood once again reaffirmed her ambitious price target for Bitcoin

In a fresh interview with Bloomberg, ARK Investment Management Founder and CEO Cathie Wood returned to her famous price target for Bitcoin (BTC), predicting it could soar to $1.5 million per coin by the year 2030. Despite the recent market volatility and a pronounced “risk-off” environment, Wood remains steadfast in her conviction that the leading cryptocurrency will continue its long-term upward trajectory.

“Yes, it is our view,” responded Wood when asked whether she still expects Bitcoin to reach her stated price target. “I think right now we’re in a risk-off period generally. And if you’ve been watching Bitcoin, it’s almost been a leader in terms of risk on, risk off.”

According to Wood, on-chain analytics indicate that Bitcoin is currently “in the middle of a little bit more than halfway through a four-year cycle”—a reference to BTC’s historically repetitive 4-year cycle. She emphasized that “we think we’re still in a bull market” and expects “deregulation” in the United States to play a crucial role in encouraging more institutions to enter the asset class.

As institutional asset allocators "have to have a point of view on this new asset class," incorporating Bitcoin into portfolios will likely improve risk-adjusted returns, she added.

Amid a broader market sell-off,suggesting a “rolling recession” scenario might already be unfolding as we speak. She cited rising concern over job security and an increasing savings rate as evidence: “We see the saving rate going up. We see the velocity of money coming down, and we do think we’ll see one or two negative quarters.”

Maintaining that such economic stress could compel the Federal Reserve to reverse course later this year, she stated: “We wouldn’t be surprised to see two or three cuts. […] We think inflation’s going to surprise on the low side of expectations.”

With gasoline prices, egg prices, and rents all displaying downward trends, Cathie Cathie names Federal Reserve to get ‘more degrees of freedom in the second half of this year’ to cut interest rates if needed as inflation may be cooling faster than many expect.

Turning to regulation, the ARK CEO sounded notably optimistic about the “easing regulatory environment” around cryptocurrency. Highlighting the US Securities and Exchange Commission’s (SEC) approach to meme coins, she noted that by “declaring these meme coins not securities”, the regulators have essentially said, “Buyer beware […] We think most of them are not going to be worth very much.

“What we think will happen is […] there’s nothing like losing money for people to learn.”

However, Wood underscored that Bitcoin, Ethereum, and Solana are core assets with “use cases […] multiplying” and likely to remain integral in the crypto ecosystem, in stark contrast to the “millions of meme coins” she believes will eventually lose their value.

The interviewer went on to ask about Cathie’s investment thesis for Robinhood and Coinbase, to which she replied that both companies are viewed by ARK as frontrunners in the battle for digital wallet dominance. Cathie went on to compare digital wallets to credit cards, suggesting “most of us don’t have very many credit cards”—and, by extension, most users will not hold more than a few digital wallets.

Additionally, she drew attention to the rise of tokenization, noting that BlackRock’s interest in tokenizing assets is a signal that large-scale players envision a “complicated […] new world” in capital formation. She also cited emerging markets as a key terrain where stablecoins and Bitcoin already serve as backstops to protect purchasing power from currency devaluation: “If you go to emerging markets […] they are using Bitcoin … but also stablecoins, which is effectively the dollar as backstops to their purchasing power and wealth.”

Despite the market jitters and short-term fluctuations, Cathie remains undeterred. As always, she's keeping an eye on the big picture. While reaffirming her high-profile bets on Tesla, Bitcoin, and disruptive technologies like artificial intelligence, she reiterated her overarching thesis: innovation and blockchain-based platforms will continue to drive deflationary forces and create new opportunities for growth. “We have been known for our Tesla call and our Bitcoin call. … I would add in AI platforms as a service company like Palantir.”

At press time, BTC traded at $83,322.