Cathie Wood's Bitcoin price prediction: Everything is just beginning!

Cathie Wood, CEO of ARK Invest, believes that the positive scenario will continue for Bitcoin (BTC).

On November 15, speaking on CNBC's Squawk Box program, Cathie Wood reminded that ARK Invest was the first public asset manager to invest in Bitcoin at $250 in 2015, saying, "We are at $90,000 and we still think we have a long way to go."

"Bitcoin is seen as a new asset class"

Wood said that Bitcoin is no longer just a global monetary system, but is also being considered as a new asset class. ARK Invest's CEO reiterated his price prediction for the next five years, saying, "In our base scenario for 2030, we see the Bitcoin price at around $650,000, and in our bull scenario, between $1 million and $1.5 million."

On November 16th, Wood stated that Bitcoin is in a strong position based on onchain data. He also emphasized that after the halving event in April, Bitcoin's supply growth dropped to 0.9 percent, which for the first time fell below the long-term supply growth rate of gold.

In a video released on platform X on Nov. 11, Wood said that the "shutdown" of financial regulators such as the Securities and Exchange Commission (SEC) and the focus on technological innovations such as artificial intelligence and digital assets will "accelerate" the U.S. economy.

Cathie Wood, who sees the trend of BTC as quite positive, has given hope to crypto investors. However, most investors are waiting for the altcoin rally to begin as BTC dominance falls.

This article does not contain investment advice or recommendations. Every investment and trading action involves risks, and readers should conduct their own research when making decisions.