ARK Invest CEO predicts bitcoin could reach $1.5 million by 2030

Cathie Wood, CEO of ARK Invest, has raised her bullish prediction for the price of bitcoin to $1.5 million by 2030, up 50% from her previous estimate of $1 million. Wood cited the recent SEC approval of spot bitcoin ETFs as a contributing factor to the increased probability of a bull case scenario. ARK Invest also provided a bear case prediction of $258,500 and a base case of $682,800. Other financial institutions, such as Standard Chartered Bank, have also predicted significant increases in bitcoin prices, with some comparing the bitcoin ETF to the first US-based gold exchange-traded product.