Cathie Wood believes a $1 Million Bitcoin by 2030 is conservative.😳 Back in early 2018, Cathie Wood & ARK Invest made a different bold prediction.
Tesla stock would be trading at $4,000 by 2023.
At the time, many analysts and investors laughed at the prediction. Not only was it highly optimistic, it was downright unrealistic.
But Cathie & her firm thought they saw something. They stuck to their guns. Less than 3 years later, in January 2021, Tesla stock was trading at $4,000 a share on a pre-stock-split adjusted basis.Cathie and her ‘unrealistic’ prediction had come off. 2 years early.
Now, Cathie and her firm have made another ‘bold’ and ‘unrealistic’ prediction.
This time for Bitcoin.
Revealed in their 2023 big ideas presentation, they have 3 price targets for Bitcoin: 1. Bear Case: $258,000 2. Base Case: $682,800 3. Bull Case: $1,480,000
Cathie & ARK invest have a deadline on these targets of 2030.
In her latest interview, Cathie called these predictions conservative.
Why?
The price models they used for the price targets, used very conservative numbers for institutional investment.
Make sure to stick around to the end of the video where Cathie breaks down her Bitcoin price predictions and also the impact she thinks the coming spot Bitcoin ETF will have on price.
About Cathie Wood:
Catherine Duddy Wood is an American investor and the founder, CEO and CIO of Ark Invest, an investment management firm.
