Cathie Wood Doubles Down on 2030 Bitcoin Price Target, Says BTC Still Has ‘Miles To Go’

ARK Invest CEO Cathie Wood is staying committed to her bullish outlook on Bitcoin (BTC), saying that the top digital asset still has much further to climb.

In a new interview on CNBC Television, Wood says Bitcoin has “miles to go” before it peaks due to a combination of dwindling supply and rising interest from institutions.

According to Wood, her base-case price target of the flagship digital asset in 2030 is between $700,000 and $750,000, while her bull case target is around $1.5 million. A rise to Wood’s base-case price would represent about a 573 increase from current levels.

“Our analyst and our on-chain analyst put [out a] piece recently, and you can see the building blocks, how much share we expect Bitcoin to either take from gold or grow that store-of-value market, institutions moving in – and they’ve barely moved in, we have a million more coins, roughly, to be minted ever, and institutions are just testing the waters right now – and then there’s the emerging market use cases as well.

So we think we have miles to go.”

Last January, ARK Invest launched its ARK 21Shares Bitcoin ETF (ARKB), a BTC-based exchange-traded fund (ETF). Data from Bitcoin Treasuries shows that ARK currently holds 48,363 Bitcoin worth about $5 billion.

Bitcoin is trading for $103,970 at time of writing, up 9.9 in the last seven days.