ARK Invest founder Cathie Wood said Bitcoin is setting up for another major rally and maintained her long-standing view that the asset could ultimately reach $1.5 million. Speaking in an interview cited by BlockBeats on Aug. 22, Wood said she remains constructive on Bitcoin even after facing skepticism when she first put forward that price target. Her thesis rests on three main points: rising institutional adoption, Bitcoin’s fixed supply, and its growing role as a genuine digital store of value. Wood also pointed to one potential catalyst that, in her view, could materially accelerate the timeline for that target: purchases of Bitcoin by the U.S. government. The remarks reflect a position she has repeated multiple times, according to the report.
ARK Invest founder Cathie Wood said Bitcoin is preparing for another major move higher and repeated her view that the cryptocurrency could eventually reach $1.5 million.
According to BlockBeats, citing an interview on Aug. 22, Wood said: 「Bitcoin is getting ready for a new round of gains, and I believe it will ultimately reach $1.5 million.」
Wood has held to the $1.5 million target for Bitcoin for some time. The report said she kept that view even when many people previously thought she had 「lost her mind.」
Three pillars behind the bullish case
Wood’s case for Bitcoin rests on three core pillars: institutional adoption, fixed supply, and Bitcoin’s gradual emergence as a true digital store of value.
She has also said on multiple occasions that one specific catalyst could significantly speed up the path toward that target: the U.S. government buying Bitcoin.
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