Why Bitcoin Could Rise Above $1.5 Million

-->Cathie Wood, the CEO of Ark Invest, sees a lot of growth potential for bitcoin. She predicts that the digital currency could reach a value of $1.5 million per coin in the future. At the Bitcoin Investor Day conference in New York on March 22, Wood provided more details about her bullish view. She suggests that if institutions allocate about 5% of their portfolios to bitcoin, its value could rise well above $1.5 million, possibly as high as $2.3 million.

Major institutions embrace bitcoin

Her view is based on the assumption that major financial institutions will increasingly embrace bitcoin, especially following the recent approval by the US Securities and Exchange Commission (SEC) of the first spot Bitcoin ETFs. Cathie Wood viewed this development as an important moment for the mainstream adoption of bitcoin, reinforcing her belief in the cryptocurrency’s integration into the global financial system.

Wood sees bitcoin as a financial stabilizer

Wood’s predictions go beyond immediate price targets. She sees bitcoin as a “financial stabilizer,” particularly in emerging markets where economies are vulnerable to currency devaluation and economic instability. For example, in countries like Nigeria, Bitcoin is used as a safe haven against economic fluctuations. Furthermore, during times of crisis, such as the US regional banking crisis, bitcoin’s performance is as a hedge against economic uncertainty.

According to Wood, the limited supply of bitcoin is also very important against inflation. Wood sees a future where bitcoin is not just a speculative investment, but is actually used in the financial world.

This possibility, she said, is strengthened by the SEC’s approvals of bitcoin spot ETFs. Now that there is more certainty about the legislation surrounding crypto, companies will become even more involved with cryptocurrencies such as bitcoin. According to her, embracing crypto by large institutions could ensure adoption in the financial world.