The CEO of investment management firm Ark Invest, Cathie Wood, has explained why her firm’s confidence in bitcoin’s price reaching $1.5 million has increased. Citing the crypto’s performance during the regional bank crisis earlier this year, she stressed, “That was the flight to safety,” emphasizing that bitcoin is the insurance her team believes “everyone will want at the end of the day.”
Ark Invest’s Bitcoin Price Predictions
Ark Investment Management (Ark Invest) is now more confident in bitcoin’s price reaching $1.5 million per coin. The firm’s CEO, Cathie Wood, said in an interview with Bloomberg Monday:
Our confidence has increased toward the bull case.
The bull case Wood referred to was one of the three scenarios Ark Invest outlined in its annual Big Ideas 2023 that was published in February. In the firm’s base case scenario, the price of bitcoin is projected to reach $682,800 by the end of December 2030, while the bull case scenario envisions BTC soaring t
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