In a fresh interview with Bloomberg, ARK Investment Management Founder and CEO Cathie Wood once again reaffirmed her ambitious price target for Bitcoin, predicting it could soar to $1.5 million per coin by the year 2030. Despite the recent market volatility and a pronounced \u201crisk-off\u201d environment, Wood remains steadfast in her conviction that the leading cryptocurrency will continue its long-term upward trajectory.<\/p>\n
\u201cYes, it is our view,\u201d Wood replied<\/a> when asked whether she still expects Bitcoin to reach her stated price target. \u201cI think right now we\u2019re in a risk-off period generally. And if you\u2019ve been watching Bitcoin, it\u2019s almost been a leader in terms of risk on, risk off.\u201d<\/p>\n According to Wood, on-chain analytics indicate that Bitcoin is currently \u201cin the middle of a little bit more than halfway through a four-year cycle\u201d\u2014a reference to BTC\u2019s historically repetitive 4-year cycle<\/a>. She emphasized that \u201cwe think we\u2019re still in a bull market\u201d and expects \u201cderegulation\u201d in the United States to play a crucial role in encouraging more institutions to enter the asset class.<\/p>\n Wood further argued that institutional asset allocators \u201chave to have a point of view on this new asset class\u201d and that incorporating Bitcoin into portfolios will likely improve risk-adjusted returns.<\/p>\n Amid a broader market sell-off, Wood suggested a \u201crolling recession\u201d scenario might already be unfolding. She cited rising concern over job security and an increasing savings rate as evidence: \u201cWe see the saving rate going up. We see the velocity of money coming down, and we do think we\u2019ll see one or two negative quarters.\u201d<\/p>\n She maintained that such economic stress could compel the Federal Reserve to reverse course later this year: \u201cWe wouldn\u2019t be surprised to see two or three cuts. [\u2026] We think inflation\u2019s going to surprise on the low side of expectations.\u201d<\/p>\n Wood pointed to declining gasoline prices, egg prices, and rents as signals that inflation may be cooling faster than many expect, granting the Fed \u201cmore degrees of freedom in the second half of this year.\u201d<\/p>\n Turning to regulation, Wood sounded notably optimistic about the \u201ceasing regulatory environment\u201d around cryptocurrency. She highlighted the US Securities and Exchange Commission\u2019s (SEC)<\/a> approach to meme coins, noting that by \u201cdeclaring these meme coins not securities\u201d, the regulators have essentially said, \u201cBuyer beware [\u2026] We think most of them are not going to be worth very much. [\u2026] What we think will happen is [\u2026] there\u2019s nothing like losing money for people to learn.\u201d<\/p>\n However, Wood underscored that Bitcoin, Ethereum, and Solana are core assets with \u201cuse cases [\u2026] multiplying\u201d and likely to remain integral in the crypto ecosystem, in stark contrast to the \u201cmillions of meme coins\u201d she believes will eventually lose their value.<\/p>\nCathie Wood Still Calls $1.5 Million Bitcoin By 2030<\/h2>\n