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Cathie Wood, CEO of Ark, believes Bitcoin will hit $1 million by 2030

At the Bitcoin 2022 conference in Miami, Florida, Cathie Wood reiterated her favorable outlook on bitcoin.

In a presentation on Thursday, the CEO of Ark Invest predicted that the cryptocurrency will reach $1 million by 2030.

“We believe bitcoin has only just begun,” she tells CNBC. “Institutions are only now catching up to individuals in terms of BTC adoption,” Wood notes.

BTC prices have dipped below $43,000 on many occasions in recent weeks, and have since failed to make major advances.

According to Coingecko data, the world’s top digital currency fell to $42,534.90 on Saturday, down 8.1 percent in the previous seven days.

“Bitcoin’s price target for 2030 is greater than a million dollars per bitcoin,” Wood stated.

During her Miami presentation, Wood relayed the high-level forecast from her company’s Big Ideas 2022 study. So, The cryptocurrency’s lofty price target was contained by this.

The world’s greatest gathering of crypto intellectuals and entrepreneurs, Bitcoin 2022 Miami, is taking place in Miami, Florida. It will be in the Miami Beach Convention Center from April 6 to 9 and has already drawn over 35,000 registrants and over 7 million livestream viewers from all over the world.

Bitcoin, according to Wood, is the first open-source, private digital rules-based monetary system in the world.

It’s a really huge notion, the investor says during her “The Future is Bright” conference, which she co-hosted with MicroStrategy CEO Michael Saylor, another prominent proponent of cryptocurrency.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.