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![](https://www.pinterest.com/pin/create/button/?url=https://econotimes.com/Cathie-Wood-Says-Bitcoins-Journey-Is-Just-Beginning-as-It-Hits-90K-With-A-Long-Way-to-Go-1694158/&media=https://f1.econotimes.com/2024/11/508nsqyz3h.jpeg&description=Cathie Wood Says Bitcoin’s Journey Is Just Beginning as It Hits $90K With "A Long Way to Go" - EconoTimes)
Despite Bitcoin’s surge to a record-breaking $90,000, ARK Invest’s Cathie Wood argues the cryptocurrency is only at the start of its ascent. Predicting a possible rise to $1.5 million by 2030, she attributes the momentum to growing institutional interest and regulatory shifts.
ARK’s Early Bet on Bitcoin Pays Off
Despite Bitcoin recently breaking a record high of $90,000, ARK Invest's Cathie Wood believes its journey is far from over. Speaking on CNBC’s Squawk Box on Nov. 15, Wood emphasized ARK’s foresight in gaining exposure to Bitcoin as early as 2015, when it traded at just $250.
Wood also pointed to "regulatory relief" as a key driver for Bitcoin’s continued momentum, a policy anticipated under the incoming Trump administration.
Highlighting Bitcoin’s evolution, Wood noted that the cryptocurrency is now seen as a “new asset class.” This shift is compelling institutions and asset managers to include Bitcoin in their portfolios, given its unique behavior compared to other assets.
Bitcoin’s Potential: Bold Forecasts for 2030
In her five-year forecast, Wood reiterated her bullish stance, predicting a 2030 base target of $650,000 and a bull case range of $1 million to $1.5 million, Cointelegraph shares.
On Nov. 13, Bitcoin’s price hit a peak of $93,477, according to CoinGecko. While it dipped slightly following the milestone, it quickly rebounded and returned to above $90,000 during early trading on Nov. 18. Price discovery beyond this level, however, remains elusive.
Wood reinforced her optimism on Nov. 16, citing onchain analytics that indicate a robust bull market. She pointed out that Bitcoin’s supply growth dropped to 0.9% after its April halving—lower than the long-term growth in gold supply for the first time.
Turbocharging Innovation Could Drive Bitcoin Growth
In a video posted on X on Nov. 11, Wood discussed the economic potential of "defanging" financial regulators like the SEC. She argued that redirecting focus toward innovation in digital assets, artificial intelligence, and other technological fields could "turbocharge" the U.S. economy, further strengthening Bitcoin’s position.
