Why Cathie Wood Believes Bitcoin’s Odds Of Hitting $1.5 Million Have Increased Despite Latest Market Slide

Already trading in a downward trend this week, the price of Bitcoin (BTC) briefly slumped below the $95,000 level on Wednesday as the crypto market sunk lower.

Nevertheless, BTC has a new seven-figure prediction for the future as one of the crypto industry’s best-known commentators reaffirms her optimistic outlook on the apex cryptocurrency.

Wood Sees Bitcoin Reaching $1.5 Million By 2030

After blasting past $100,000 shortly following the election victory of Donald Trump in November, Bitcoin has traded rangebound between $90,000 and $108,000. The top crypto has been rather lackluster, below the $100K level after the president’s threat to slap tariffs on Canadian, Mexican, and Chinese imports.

While the geopolitical episode weighing on crypto may not be over yet, Ark Invest CEO Cathie Wood thinks the odds of Bitcoin surging to an unprecedented milestone of $1.5 million are improving as institutional investors boost their exposure to crypto assets.

“Many institutional investors are now looking at Bitcoin and thinking they need to add it to their asset allocation because its return and risk profile looks so much different than all the other assets in their portfolios,” Wood, a prominent advocate for Bitcoin who began investing in the cryptocurrency in 2015, explained in a Tuesday video.

The exec noted that most people know ARK for its uber-bullish Bitcoin prediction of $1.5 million by 2030, adding that they believe the odds for BTC achieving their price target have rocketed “because of what is becoming the institutionalization of this new asset class.”

Not The Only Commentator Forecasting Lofty Bitcoin Prices

Wood isn’t the only one expecting a massive jump in Bitcoin prices. U.S. President Donald Trump’s son, Eric, boldly predicted that BTC is on pace to hit $1 million, without giving a timeline.

Samson Mow, vocal Bitcoin supporter and CEO of BTC adoption-focused company JAN3, is even more optimistic. He recently reiterated his prediction that Bitcoin will skyrocket to $1 million this year.

Mow stated that this mammoth surge won’t be gradual but rather a rapid ascension happening in the span of weeks or months.

“If you look at the failure of fiat currencies, they don’t gradually fail. They fail spectacularly. And this is the premise behind the 1 million Bitcoin call that is not going to be a gradual, slow increase to $1 million a coin, but rather a very short and violent upheaval that sends us there in a matter of months, weeks,” he postulated.