The founder and CEO of ARK Invest thus raises her expectations about the price of Bitcoin for the coming years, projecting that it could reach close to USD $4 million per unit by 2030.
The main director of ARK Invest, Cathie Wood, projects that, If institutional investors allocate at least 5% of their portfolio to Bitcoin, the digital currency could reach US$3.8 million per unit in the next six years, as projected by the renowned financial guru.
The founder and CEO of ARK Invest thus raises her expectations about the price of Bitcoin for the coming years, projecting that it could reach close to US$4 million per unit by 2030.
Wood’s new projection was revealed in statements to Yahoo Finance, where it almost triples previous estimates, considering certain conditions that she considers feasible for the coming years. Wood maintains that Bitcoin could be valued at around US$3.8 million by 2030, as long as institutions decide to formally invest in the main digital currency, allocating at least 5% of their portfolios to BTC.
Regarding this, the CEO of ARK Invest commented: “Last year we presented our bullish stance towards Bitcoin. It was 1.5 million dollars. With this institutional green light that the SEC [Comisión de Bolsa y Valores de EE. UU.] has provided, albeit reluctantly, the analysis we have performed suggests that if institutional investors allocate a little more than 5% of their portfolios to Bitcoin, as we believe will happen over time, that alone would add $2.3 million to the projection I just gave you.”
Bitcoin: the momentum of ETFs
Wood focuses his expectations on the spot Bitcoin ETFs already operational in the US market, considering them a highly regulated mechanism so that companies can have exposure to the main digital currency without facing the challenges of custody of funds.
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However, there are still about six years left to verify whether this new estimate turns out to be correct. Meanwhile, Bitcoin faces a correction from the highs reached in March of this year. The cryptocurrency has recently experienced strong volatility and is currently hovering around the $58,000 mark.
The regulatory landscape is also relevant at the moment, with US authorities intensifying scrutiny over cryptocurrency operations, particularly against transaction mixing services and exchanges not registered in the country.
In conclusion, the future of Bitcoin and other cryptocurrencies remains uncertain, but the coming months and years will determine price developments in this exciting market.
Source: Ambito
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