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Cathy Wood Doubles Down on +$1 Million Bitcoin by 2030 Amid Recent Dip
The cryptocurrency market has taken a hit in the past few days, with Bitcoin’s value plummeting from $108,364 to $95,537. However, despite this recent downturn, Ark Invest CEO Cathy Wood remains steadfast in her bullish stance, reiterating that she expects Bitcoin to reach valuations of over $1 million by 2030.
Wood’s prediction, which has been met with skepticism by some analysts, is rooted in her belief that a favorable regulatory landscape will pave the way for institutional adoption. She also points to the limited supply of BTC as a major factor driving up its value in the long term.
In addition to these factors, Wood highlights technological advancements as another reason why investors will increasingly turn to Bitcoin beyond speculative reasons. The CEO emphasizes the digital nature of the currency, backed by a secure global network, which she believes will make it more attractive to institutional investors.
The recent Bitcoin halving event earlier this year is also seen as an understated development that has contributed to the cryptocurrency’s attractiveness. This reduction in supply, according to Wood, makes Bitcoin a more appealing option for institutional investors, solidifying its position as a digital store of value.
While short-term pullbacks may occur, Wood remains convinced that the fundamental factors driving the market will ultimately lead to a long-term rally. She sees this recent dip as an opportunity for investors to accumulate BTC below $100,000, suggesting that savvy investors should take advantage of the current price drop to get in on the action.
Despite recent market volatility, Cathy Wood’s unwavering confidence in Bitcoin’s future value has not wavered.
Source: ambcrypto.com
