This week, Cathie Wood, head of Ark Invest, expressed her conviction that the U.S. economy is exiting a three-year “successive recession” caused by the Federal Reserve’s interest rate increases. Additionally, Wood mentioned that Ark aims to reach a price target of $1.5 million for bitcoin by 2030.
Wood Maps Out a New Bull Era Fueled by AI and Capital Flows
Despite recent market volatility and tariff concerns, Ark Invest’s CEO Cathie Wood framed the current environment as a “global tax cut” scenario, suggesting that efforts to reduce trade barriers and taxes are starting to materialize, clearing up policy uncertainty.
Wood expressed optimism about the months ahead, pointing to rising productivity across sectors, especially within the government and biotech fields. She cited rapid advancements in generative artificial intelligence (AI), including tools now used by the FDA to streamline clinical trial reviews from days to minutes.
According to Wood, this productivity boom could lead to lower-than-expected inflation and create favorable conditions for capital investment. Cathie Wood reaffirmed Ark Invest’s long-term bitcoin projections, crediting Ark’s analyst David Puell for laying out the detailed framework behind these forecasts, highlighting expectations that bitcoin will continue to pull market share from gold.
“So we have always had a 2030 target at the base case in the $700,000 to $750,000 range,” Wood told CNBC’s Andrew Ross Sorkin. “The bull case in the $1.5 million dollar range. David Puell, our onchain analyst, put that piece out recently, and you can see the building blocks, how much share we expect bitcoin to either take from gold or grow that store of value market.”
Wood concluded:
Institutions are beginning to establish their presence, but they’re still in the early stages of setting up. We anticipate minting approximately a million more coins in the future. At present, institutions are merely dipping their toes in the water, and there are also promising use cases for emerging markets on the horizon. Therefore, we believe we have a long way to go.
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2025-05-10 19:15