- Cathie Wood reaffirms her $1.5M Bitcoin prediction by 2030, citing its growing scarcity.
- Wood expects Trump-era FTC changes to drive a surge in start-up M&A transactions.
- Elon Musk’s leadership in DOGE aims to reduce regulatory barriers for innovation growth.
Cathie Wood, the CEO of ARK Investment Management, reaffirmed her bullish prediction for Bitcoin, targeting $1.5 million by 2030. She highlighted Bitcoin’s scarcity and its potential to surpass gold as a store of value. Bitcoin’s capped supply of 21 million coins makes it more predictable and limited than gold, she said.
Speaking to Bloomberg Television, Wood emphasized Bitcoin’s recent rally to over $108,000. She attributed the surge to strong supply-and-demand dynamics. Wood stated that unlike gold, where higher prices lead to increased production, Bitcoin’s fixed production rate ensures its scarcity.
Wood also said she believed there would be improvement in the regulatory environment under Donald Trump’s administration. She expects a relaxation of the laws which she believes will lead to the widespread use of Bitcoin as a medium of exchange and record high merger and acquisition (M&A) activities among private firms.
She specifically highlighted the Federal Trade Commission’s (FTC) changing policies as a catalyst for upcoming M&A transactions. “M&A has been prevented by the FTC. That is going to change,” Wood remarked. These changes are expected to create liquidity opportunities for venture capital investors and allow price discovery for innovative companies.
Wood predicted that this shift will unlock a backlog of delayed transactions. Strategic buyers will bid on tech-driven companies, revealing their true market value. She noted that the incoming administration’s pro-business stance will play a significant role in this transition.
Elon Musk Backs Cathie Wood’s Economic Growth StrategyWood also praised Elon Musk for his involvement in crypto-friendly initiatives. She commended his leadership in Trump’s Department of Government Efficiency (DOGE). She believes Musk’s efforts will help reduce regulatory hurdles, benefiting innovators and businesses alike.
ARK Investment has also been a strong advocate for cryptocurrency and technology. Their bold predictions about Bitcoin and Tesla have sparked both debate and recognition. Despite mixed opinions, Wood forecasts have proven profitable for investors.
In the interview, Wood also expressed faith in Musk to spearhead change. She said his experience in resolving the regulatory issues makes him even better placed to effect changes for efficiency and growth. Wood’s optimistic outlook reflects her belief. She thinks Bitcoin and other tech will thrive in a friendlier regulatory environment.
