ARK Invest’s Cathie Wood Says Bitcoin Could Soar to $1.5 Million Under Right Conditions

ARK Invest’s Cathie Wood
ARK Invest’s Cathie Wood Photo by FMT licensed under CC BY 4.0.

Cathie Wood, CEO of ARK Invest, is doubling down on her long-term belief in Bitcoin (BTC) despite ongoing market turbulence.

Speaking on her firm’s monthly In the Know podcast, Wood reaffirmed her bold $1 million price target for the world’s largest cryptocurrency. She cited the rapid expansion of stablecoins, which recently surpassed $300 billion in total market capitalization, as a key signal of the crypto market’s resilience and maturity.

According to Wood, this surge in stablecoin usage marks a crucial step in the evolution of digital assets, even if it temporarily slows Bitcoin’s short-term price movement. “Stablecoins demonstrate growing trust in blockchain technology and digital finance,” she said, adding that the broader crypto ecosystem continues to strengthen.

Despite Bitcoin’s volatility—having dipped below $100,000 for the first time since mid-2022—Wood remains confident in its trajectory. She believes that institutional adoption and a stabilizing macroeconomic environment will drive major gains starting in mid-December, following key Federal Reserve and U.S. employment updates.

Wood also compared Bitcoin’s long-term potential to gold’s historical market path, suggesting the cryptocurrency could one day capture a large share of gold’s total market value.

“Bitcoin is digital gold,” Wood said. “As the market matures and trust increases, it will serve as both a store of value and a hedge against inflation.”

While acknowledging near-term headwinds, Wood remains steadfast in her prediction that Bitcoin could reach $650,000 by 2030—and potentially soar to $1.5 million if conditions turn favorable.

Her unwavering optimism underscores ARK Invest’s continued belief that Bitcoin will remain a cornerstone of the global digital asset economy for years to come.