Cathie Wood Reiterates Bitcoin (BTC) Could Surpass $1 Million by 2030

Cathie Wood, CEO of ARK Invest, has reiterated her optimistic outlook on Bitcoin (BTC) in a recent interview with Bloomberg

Cathie Wood, the CEO of ARK Invest, remains bullish on Bitcoin (CRYPTO: BTC) and anticipates a bright future for the cryptocurrency, thanks in part to upcoming political and regulatory shifts.

According to Wood, a surge in private-company acquisitions is to be expected with the Trump administration, which will pave the way for new opportunities for venture capitalists and investors alike.

In her interview with Bloomberg, Wood also highlighted alterations at the Federal Trade Commission that are expected to lead to a revitalization of merger-and-acquisition activity. This shift will allow strategic buyers to bid for innovative companies more actively, ultimately enhancing price discovery.

“M&A has been prevented by the FTC. That is going to change,” said Wood, underscoring how these developments will have a profound impact on the financial landscape.

Continuing her case for Bitcoin, Wood reiterated her optimistic prediction that the coin could cross $1 million by 2030. This assertion comes as Bitcoin is trading at over $108,000, having rallied significantly in recent weeks.

She attributes this growth not only to the market dynamics but also to Bitcoin's inherent scarcity, which is capped at a total supply of 21 million coins.

Drawing a contrast between Bitcoin and gold, Wood noted that while increased gold prices typically lead to higher production rates, Bitcoin's fixed supply ensures that its scarcity will only intensify over time. “It is becoming even more scarce than gold,” she stated.

Wood Highlights Musk’s Role In Overcoming Regulatory Hurdles: Wood's investment philosophy has garnered both acclaim and criticism, particularly regarding her high-risk bets on emerging technologies.

Her ARK Innovation exchange-traded fund (NYSE:ARKK), valued at $6.7 billion, has experienced significant volatility, reflecting the challenges and rewards associated with investing in disruptive sectors. Nonetheless, Wood’s predictions for both Bitcoin and Tesla (NASDAQ:TSLA) have proven prescient, yielding considerable returns for investors.

In related news, Wood also expressed confidence in Elon Musk's new initiative focused on streamlining government operations, aptly named the Department of Government Efficiency (DOGE).

She believes Musk's experience with regulatory hurdles positions him uniquely to effect meaningful change in governmental structures.

“He just knows he can change the world faster than he already has if he got some of those obstacles out of the way,” remarked Wood, suggesting that Musk's influence could lead to a more favorable environment for innovation.

Bitcoin is trading at $97,268 at the time of writing, down 4% on a weekly basis.