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Cathie Wood CEO of ARK Invest has confidently stated that Bitcoin is on track to reach a price target of $700,000 or more in the next few years. Speaking on CNBC’s Squawk Box, Wood emphasized ARK’s prediction that Bitcoin could rise by 580% from its current value by 2030. She mentioned that the base case for Bitcoin stands between $700,000 and $750,000 with the bullish case pushing it as high as $1.5 million.
Wood pointed to three key factors driving this price surge. These include Bitcoin’s growing market share as a store of value in competition with gold the increasing institutional interest and emerging market use cases. She noted that institutions are just beginning to explore Bitcoin and that millions more coins will be minted.
Wood also discussed the end of the US recession highlighting productivity gains spurred by artificial intelligence. She believes the economy will see a period of growth following the uncertainties around tariffs and rising inflation will remain under control.
