Katie Wood: bitcoin will reach $1.5 million by 2030 after the ETF approval

Katie Wood, head of the ARK Invest investment fund, expressed confidence that by 2030 the value of bitcoin could reach $1.5 million.

This optimism is due to the recent approval by the U.S. Securities and Exchange Commission (SEC) of a number of spot bitcoin ETFs. Wood said on Thursday: «We believe that the probability of a bullish outlook has increased following the SEC's approval. It's a green light.»

At the same time, even Wood's pessimistic forecast suggests that the price of bitcoin may rise more than five times compared to the current value. In her opinion, in a «bearish» scenario, the price of the token could reach $258,500. Wood's baseline scenario assumes that the price of bitcoin will reach $682,800.

Katie Wood also noted the uniqueness of bitcoin: «It is the first global, decentralized, digital, rule–based – critical - monetary system in history. It's a great idea.»

ARK Invest is among 11 companies whose applications to launch a spot bitcoin ETF have been approved by the SEC. These companies also include major investment giants, including BlackRock, Invesco and Fidelity.