"Bitcoin well above USD 1,000,000 by 2030"

According to Cathie Wood, the BTC price will break the US$1 million mark before 2030. In an interview with the New Zealand Herald, the popular director of ARK Invest revealed "new prediction for institutional investment" in Bitcoin.

The adjustment to her already bullish forecast for BTC comes against the backdrop of Bitcoin ETFs, as the SEC's January approval would have completely changed the investment landscape for the largest cryptocurrency.

The company's highly optimistic price target was already $1 million per Bitcoin by 2030, but "that target was before the SEC gave us the green light, and I think that was an important milestone, and it pulled the timeline forward," Wood told a wide audience.

Bitcoin's current upward trend precedes expected large-scale institutional adoption. She explained that influential financial institutions such as Morgan Stanley, Merryl Lynch and Bank of America have not yet integrated BTC into their offerings.

"Our target is well above that, and with our new prediction for institutional participation, the price premium we are assuming has actually more than doubled," she revealed. However, she refrained from naming a specific U.S. dollar value.

ARK Invest's revised price target for Bitcoin reflects growing optimism about the future of the cryptocurrency. This is supported by expected institutional adoption and regulatory developments.

This morning, Bitcoin reached a new all-time high of $71,627.95.