NEW YORK / LONDON (IT BOLTWISE) – ARK Invest CEO Cathie Wood remains optimistic about the future of Bitcoin despite the current market fluctuations. She reiterates her goal of $1 million for the cryptocurrency and sees the growing importance of stablecoins as a sign of the maturity of the digital market.
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Cathie Wood, the CEO of ARK Invest, remains confident about the future of Bitcoin, even given the current market fluctuations. In a podcast, Wood reiterated her long-term price target of $1 million for the cryptocurrency. She attributes this confidence to the continued growth of stablecoins, whose total market value recently surpassed $300 billion. This development, Wood said, marks a pivotal moment for the digital asset market, although short-term fluctuations in the price of Bitcoin are possible.
Wood emphasizes that the increasing presence of stablecoins, while potentially dampening Bitcoin’s immediate market performance, reflects the growing credibility and maturity of the broader cryptocurrency ecosystem. These developments are critical to long-term growth and solidify Bitcoin’s position as a leading digital asset, according to Wood. Their $1 million price target remains unchanged despite recent declines in the price of Bitcoin, which fell below $100,000 for the first time since June 2022.
According to Wood, a key driver of Bitcoin’s growth is both institutional commitment and the development of a more stable macroeconomic environment. She expects conditions to improve around mid-December after the Federal Reserve releases updates and new U.S. jobs reports. Wood compares Bitcoin’s potential growth to gold’s market performance and suggests that Bitcoin could ultimately take a significant portion of gold’s market capitalization.
Despite the current challenges, Wood remains optimistic that pressure on the digital asset market will dissipate, potentially leading to a new phase of growth in 2026. Their positive view of Bitcoin continues to be driven by its recognition as “digital gold” and increasing institutional support. Wood also raised the possibility that Bitcoin could rise to as much as $650,000 by 2030, with the prospect of even reaching $1.5 million under favorable conditions.
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