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    Bitcoin surges past $90k with predictions of reaching up to $1.5 million by 2030, according to ARK Invest’s Cathie Wood

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    Bitcoin has reached a record high of over $90k, but Cathie Wood from ARK Invest predicts there’s more growth ahead. ARK Invest was the first public asset manager to invest in Bitcoin at $250, and Wood attributes the expected growth to regulatory changes from the new administration. Wood believes Bitcoin will value around $650k by 2030 in a basic scenario, and between $1-1.5 million in an ideal scenario. Changes in regulations and innovations in AI and digital assets could boost the US economy, she said.

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    Bitcoin just hit a record value higher than $90k, but Cathie Wood from ARK Invest says we can expect even more from this online currency. Back in 2015, ARK Invest was the first public asset manager to invest in Bitcoin when it was valued at $250, and even at its current high, Cathie Wood believes there’s more growth in the future.

    She explained this continued growth is because of expected changes in regulation from the new administration. Basically, Bitcoin is being seen as a totally new type of asset. It’s not just about money anymore, it’s a class of its own. And this uniqueness has got big financial institutions and asset managers’ attention, they believe Bitcoin behaves differently and needs to be included in their plans.

    Wood even predicted future values and it’s big! She thinks Bitcoin will be around $650k in 2030 in a basic scenario and could even touch between $1 and $1.5 million in an ideal scenario.

    It’s worth mentioning that Bitcoin did reach an impressive value of $93,477 on Nov. 13, according to CoinGecko. It did dip a little after but is above $90,000 again as of early Nov. 18.

    In a tweet on Nov. 16, Wood pointed out that the Bitcoin market is in good shape and even stated that “the supply of Bitcoin is growing slower than the supply of gold for the first time since its inception.”

    Last week in a video, Wood shared her views that relaxing regulations from financial watch dogs like the Securities and Exchange Commission along with innovation in areas like artificial intelligence and digital assets would supercharge the US economy.

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