Cathie Wood, the CEO of ARK Invest, has once again expressed her bullish stance on Bitcoin, predicting that the cryptocurrency could surpass $1 million by 2030.
Wood believes that potential political and regulatory shifts could have a significant impact on the market, leading to increased investment opportunities. She emphasizes that changes at the Federal Trade Commission (FTC) could revitalize merger-and-acquisition activity, enabling strategic buyers to bid for innovative companies.
Wood also highlights Bitcoin's inherent scarcity, which she argues sets it apart from traditional assets like gold. With a capped total supply of 21 million coins, Bitcoin's scarcity is expected to intensify over time.
Despite recent price fluctuations, Wood remains confident in Bitcoin's potential and its role as a store of value.
Additionally, Wood expresses confidence in Elon Musk's ability to effect meaningful change in governmental structures, which could foster a more favorable environment for innovation and investment.
As the cryptocurrency market continues to evolve, Wood's insights and predictions will likely remain influential for investors and analysts.