Cathie Wood: Bitcoin will hit $1 million by 2030

[wilkine]

ARK Invest CEO Cathie Wood recently announced that Bitcoin is expected to surpass the $1 million mark before 2030, according to her company's previous bullish timeline. Wood's prediction takes into account several factors, including new institutional participation and significant regulatory milestones, notably the approval of the first spot Bitcoin exchange-traded fund (ETF) in the United States. These factors indeed pave the way for wider acceptance and integration of Bitcoin into traditional financial systems. The launch of spot ETFs is seen as a significant turning point as it enables more institutional investors to participate in the Bitcoin market through traditional financial channels. The approval by the U.S. Securities and Exchange Commission (SEC) and the subsequent performance of these ETFs may accelerate Bitcoin's value appreciation timeline. These factors could increase investor confidence in Bitcoin, further driving its price upwards.

Reference: https://cryptoslate.com/cathie-wood-sees-bitcoin-at-1-million-sooner-than-2030-after-record-etf-performance

[hugeblack]

Once the price starts rising, we will hear more crazy predictions, but what is special about 2030? If we say that Bitcoin cycles every 4 years, then the rise will happen in 2025, 2029, 2033, and that each cycle will be shorter than the previous one. Therefore, 2030 is a year for price correction, and inevitably after price correction, Bitcoin will not be at a price of a million dollars.

One million dollars is an exaggerated price and we may not reach it until after 2050.

[TomPluz]

As always, when Bitcoin is rising and most especially when it reached a new ATH on record, there would be experts who can claim that in due time BTC will be worth 1 million dollar and even more. Well, I am seeing nothing really big wrong with the prediction of anyone including that of Cathie Wood, a known Bitcoin enthusiast and evangelist for many years. People like Cathie are always the optimist for Bitcoin and in a way we should be thanking them for holding the line even those days where freezing winter came to our coin. Though, of course, one must take things with a grain of salt and must approach things with anything in investment with a lot of care and thinking. In days ahead, we can encounter similar extremely positive predictions to land in many crypto-based media creating more excitement and hopefully more bullishness for Bitcoin.

[Aanuoluwatofunmi]

I believe that before 2030, we are going to experience halving coming 2028 and by then we might have already been seeing or telling of bitcoin at $250k to $350k or even more, i cant say if we really may achieve this by far on bitcoin all time high of 1million dollars by 2030, but we could achieve something close to that by all possibilities, bitcoin will never depreciate in value or the way of how the people see its usefulness, this alone tells more about better expectations to see come through in subsequent times with bitcoin.

[trendcoin]

As always, when Bitcoin is rising and most especially when it reached a new ATH on record, there would be experts who can claim that in due time BTC will be worth 1 million dollar and even more. Well, I am seeing nothing really big wrong with the prediction of anyone including that of Cathie Wood, a known Bitcoin enthusiast and evangelist for many years. People like Cathie are always the optimist for Bitcoin and in a way we should be thanking them for holding the line even those days where freezing winter came to our coin. Though, of course, one must take things with a grain of salt and must approach things with anything in investment with a lot of care and thinking. In days ahead, we can encounter similar extremely positive predictions to land in many crypto-based media creating more excitement and hopefully more bullishness for Bitcoin.

That's a very true observation. When I hear the phrase Bitcoin and 1 million dollars, the first thing that comes to my mind is John McAfee. He said that by the end of 2020, Bitcoin will be 1 million dollars. Admittedly, 2030 is a more consistent prediction, but it is quite thought-provoking that everyone is focusing on the psychological threshold of $1 million. Of course, I know that $1 million is a remarkable statement, but professional people avoid such statements.

[target]

They might not be wrong this time with their predictions. BTC is becoming mainstream. Even the large financial channels are reporting BTC and crypto in general nowadays.

Big channels always drive prices to go to the moon.

[TomPluz]

When I hear the phrase Bitcoin and 1 million dollars, the first thing that comes to my mind is John McAfee. He said that by the end of 2020, Bitcoin will be 1 million dollars. Admittedly, 2030 is a more consistent prediction, but it is quite thought-provoking that everyone is focusing on the psychological threshold of $1 million. Of course, I know that $1 million is a remarkable statement, but professional people avoid such statements.

Yes, of course, I remember the famous John McAfee and in fact I would say that he was actually a pioneering Bitcoin evangelist known for such a "1 million dollar" predictions for Bitcoin. Unluckily, he is already six feet below the ground but had he been alive today he would surely join the chorus of the prediction mania for BTC...and he might even predict that in 2028 BTC will be 2 million in price. I just love the man...though he was surely a maverick one with unrestrained mouth of his own. I just realized that in the crypto industry there is no such a regulation restricting people to predict that a digital asset can be like this and like that into the future...in other investment vehicles like stocks this can be considered as a form of manipulation. Anyway, sky-high predictions are really adding more colors and excitement to the crypto industry, for sure.

[Charles-Tim]

One million dollars is an exaggerated price and we may not reach it until after 2050.

If bitcoin reducing volatility is used for the analysis, it is true that bitcoin cannot get 1 million dollars by 2030, but it can get to $500000 and above. This does not matter, what that matters most is for people to speculate the right time to invest in bitcoin and not invest at the wrong time. Nobody knows the future and we may be wrong. An instance is if the world government started investing in bitcoin and having bitcoin in their reserves. Some other things may come up that can make bitcoin reach $ 1million earlier than thought but I am not optimistic about them but to follow the reducing volatility.

[Lucius]

Once the price starts rising, we will hear more crazy predictions, but what is special about 2030?
~snip~

Maybe it's just a nice round number that she likes, and besides, someone whose whole job and future is connected to Bitcoin simply wants to influence others in that way. On the other hand, at that time we will be very close to 99% of all mined BTC and what remains for mining will have almost no impact on the market.

However, for the price of BTC to reach such a high price, we would need a real miracle, which means that in addition to ETFs, all major companies in the world and central banks should buy Bitcoin. For the private sector, I can still somehow say that this can happen - but most countries in the world are deeply centralized and Bitcoin does not fit into such a system.

[Gurujebs]

They might not be wrong this time with their predictions. BTC is becoming mainstream. Even the large financial channels are reporting BTC and crypto in general nowadays.

Big channels always drive prices to go to the moon.

Theoretically, they might not be wrong but be honest, what do you think is going to be the market cap of Bitcoin when it a price of a million dollars to a bitcoin? That's going to be the largest asset with high market cap and you really think the government is going to watch and let's that happen? They wouldn't, that's when you will start hearing that Bitcoin is ban here and there.

I think that number is a bit exaggerated but Bitcoin can go as far as beating the $100k number if anything doesn't comes up. We hope that the incident that happened in the last bull run shouldn't happened again otherwise we might not come close to that numbers again and it will look defeated.

[Captain Corporate]

There is something that you need to remember, these people are not giving these numbers to make predictions or calculations, they are doing it to get customers. You see a person who promises you the riches, and you call them up and ask them to make you rich too, and that's how they get rich. They do not really end up making money if you make money, they make money when you work with them, even if you end up losing money as well. This is why they are trying their very best to make it work one way or another, that's the whole point. I believe that we are going to end up with a lot more eventually.

[yhiaali3]

I also share the opinion of the members that this is an exaggerated number at the present time. I am surprised by how many skyrocketing expectations have become regarding the price of Bitcoin and its reaching crazy numbers.

What I always notice is that when there is a decline, pessimistic statements begin to appear such as “Bitcoin is dead,” etc., and in a bull market the opposite happens and crazy expectations begin to appear that Bitcoin will reach a million dollars.

We must be realistic in both cases and we must run behind these statements, whether pessimistic or optimistic. Bitcoin is moving forward at a steady pace and this is what is important, but the price is not important in my opinion.

[Z-tight]

That is her own opinion and i like to allow people have their opinion even if i don't agree with it. 2030 is ~ 6 years from now, and right now BTC is ~ $72k, so i don't think $1m is realistic before 2030. BTC is going to rise to unbelievable prices in the future, it is obvious with the way the network is developing, but everything is going to happen in an organic way, so i think 2030 is too quick for $1m per BTC.

[electronicash]

$1M in 2030 is possible. there are 2 more halving til we hit 2030, I'm sure the supply will not last long, they will be bought immediately when miners sell.

i have to believe this is going to happen because the ETF is not just the thing that will be happen this 2024. ETNs in UK will also be approved which the professional traders will be given access to digital assets such as BTC thru the financial institutions in UK.
https://www.reuters.com/technology/uk-financial-watchdog-will-not-block-requests-crypto-exchange-traded-notes-2024-03-11/

[Lucius]

~snip~
BTC is going to rise to unbelievable prices in the future, it is obvious with the way the network is developing, but everything is going to happen in an organic way, so i think 2030 is too quick for $1m per BTC.

What kind of development are you talking about exactly? The price rises mainly due to supply and demand, as is the case now, and when it comes to Bitcoin and its technical development, this has never had a direct and decisive impact on the price.

$1M in 2030 is possible. there are 2 more halving til we hit 2030, I'm sure the supply will not last long, they will be bought immediately when miners sell.
~snip~

Do you think what crypto miners mine today has any effect on the price? About 900 BTC per day or 27 000 per month is a drop in the ocean, considering that spot ETFs (US) bought about 450 000 BTC in the first two months - and when the reward is halved in about a month, the influence of miners on the price will be even smaller than today.