bitcoin-usd/”>BITCOIN TO $1.5 MILLION BY 2030: IS IT A BULL MARKET OR A BULLY MARKET? 🤑
It appears that the esteemed CEO of ARK Invest, Cathie Wood, has been making the rounds, touting her rather…ambitious…price prediction for Bitcoin. A mere $1.5 million by 2030, you say? Ah, but why not? After all, as the great philosopher, Dizzy Gillespie, once said, “If you don’t live it, it won’t come out of your horn.” And I’m pretty sure that’s exactly what Cathie Wood is trying to say here.
But, I digress. Bitcoin, that most mercurial of assets, has been trading under the key $100,000 level since Feb. 4, largely due to the global trade war concerns following new import tariffs announced by the US and China. Oh, the humanity!
Despite this temporary market slump, Cathie Wood remains bullish on Bitcoin’s prospects, citing the increasing institutionalization of the asset class. Ah, yes, because nothing says “institutional” like a bunch of rich people buying up Bitcoin with their trust funds.
“Many people know us for our [Bitcoin] bull case, $1.5 million,” said Wood during a video published on Feb. 11, adding:
“We actually think the odds have gone up that our bull case will be the right number, because of what is becoming the institutionalization of this new asset class.”
And, of course, no discussion of institutional investment would be complete without mentioning the esteemed ARK Invest’s Big Ideas 2025 report. Because, you know, nothing says “serious investment strategy” like a report with a title that sounds like a bad 80s rock band.
But, I suppose that’s the beauty of it all. With a potential rally to $1.5 million, Bitcoin would be on pace to realize an average compound annual growth rate (CAGR) of 58% during the next five years. Or, as I like to call it, “a nice little earner.” 😏
But, of course, there’s always a bear case, and in ARK’s bear case, Bitcoin would see a 21% CAGR to $300,000 by 2030. Ah, yes, because nothing says “bear market” like a price prediction that’s still higher than the GDP of a small country.
And, finally, because we couldn’t possibly leave out the obligatory mention of a “supply shock,” we have Iliya Kalchev, dispatch analyst at Nexo, who thinks that a “decisive break” above $100,000 could lead to a rally. Or, as I like to call it, “a nice little punt.” 🤑
So, there you have it. Bitcoin to $1.5 million by 2030. Because, why not? After all, as the great philosopher, Oscar Wilde, once said, “To love oneself is the beginning of a lifelong romance.” And I’m pretty sure that’s exactly what Cathie Wood is trying to say here.
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2025-02-12 15:28