Ark Invest CEO Cathie Wood said Bitcoin could be worth more than $1.5 million per coin if institutions allocate roughly 5% of their portfolios to the digital asset.
Wood made the statement during the Bitcoin Investor Day conference in New York on March 22.
She said:
“Since the SEC gave Institutions the green light to Bitcoin, if they were to allocate more than 5% of their portfolios to Bitcoin as we think they will – that would add $2.3M to the $1.5M price target we initially gave.”
The firm’s revised outlook, suggesting a potential surge in Bitcoin’s price beyond the $1.5 million mark, aligns with broader expectations for its integration into the global financial system.
With major financial institutions yet to fully embrace Bitcoin, Wood anticipates further upward momentum in its value.
Mathematically plausible
This stance builds upon Wood’s earlier predictions, notably her assertion in January that Bitcoin could ascend to $1.5 million by 2030 in a bullish scenario. This
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