Cathie Wood, the renowned fund manager behind Ark Invest, has long been a vocal advocate for Bitcoin (BTC), and she recently reiterated her bullish stance, predicting a price of $1 million to $1.5 million per Bitcoin by 2030. In a recent interview with Bloomberg TV, Wood emphasized her investment thesis and explained why she believes Bitcoin is a compelling buy even at its current price of around $100,000.
Wood has been talking about cryptocurrency well before it became a mainstream topic, and her confidence in Bitcoin has only strengthened. One of the key reasons she sees Bitcoin as a bargain at $100,000 is the growing institutional interest in digital assets. Large investors are now taking Bitcoin seriously, particularly with the launch of Bitcoin spot exchange-traded funds (ETFs), which make it easier for institutional investors to get involved. These investments, she argues, will help drive up Bitcoin’s price and stability in the coming years.
A major part of Wood’s thesis revolves around Bitcoin’s limited supply. With 94.3% of the total 21 million Bitcoin already mined and circulating, the remaining coins are becoming increasingly scarce. Unlike physical assets like gold, where production can increase as prices rise, Bitcoin’s supply is fixed, which means its scarcity could drive up its value. Wood believes that Bitcoin’s price could rise significantly over time, and at $100,000, it’s still a bargain in her view.
Moreover, Wood sees Bitcoin as more than just a speculative investment. She believes it serves a valuable purpose in the global financial system. In her words, Bitcoin operates as a “rules-based global monetary system” that is decentralized, private, digital, and backed by the largest and most secure computing network in the world. She likens Bitcoin to a global accounting system that tracks ownership and transactions, securing them through layers of cryptography. Bitcoin is not just a digital asset but a robust financial infrastructure.
Another key point Wood highlighted is Bitcoin’s inflation-resistant nature, especially in comparison to gold. Unlike gold, whose supply can increase when prices rise (as more mining occurs), Bitcoin’s supply is strictly limited, growing at a slow, predictable rate of about 0.9% per year for the next few years before halving again. As a result, the cost of mining Bitcoin will continue to rise, while the supply of new coins diminishes over time. This makes early Bitcoin investment a smart move, according to Wood, as waiting for a price drop or an easier mining environment may not be the best strategy.
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In summary, Wood’s long-term target for Bitcoin remains at least $1 million per coin within the next five years. She believes that, despite varying assumptions among investors, Bitcoin is primed for significant growth and stability. With institutional investors diving into the market and the asset’s inherent scarcity, Bitcoin is increasingly being seen as a valuable addition to any portfolio.
For those who missed out on early investments in companies like Nvidia, Apple, and Netflix, Wood’s insights suggest that Bitcoin might offer a similar opportunity to get in on the ground floor of what could be a major financial revolution. If you’re considering adding Bitcoin to your portfolio, it might be worth taking a closer look before the price climbs even higher.