Here’s how much $100 invested in Bitcoin today could be worth in 2030 if Cathie Wood’s price target comes true

[ad_1]

Bitcoin BTC/USD has rebounded in 2023 with the major cryptocurrency up 63% year-to-date. There could be more upside for Bitcoin in the coming years, with many industry leaders having price targets significantly higher than the current price.

Ark Invest CEO Cathie Wood is among the financial experts who see more benefits to come in Bitcoin.

Here’s a look at how Wood’s price prediction could pay off for investors.

What happened: Over the years, Wood has been a strong supporter of Bitcoin and supported progressively higher price targets.

Her price targets of $400,000 and $500,000 by 2030 were eventually raised to $1 million, a figure she has repeatedly backed.

Wood said Bitcoin’s price could rise if companies put 1% to 10% of their cash balance into Bitcoin, a comment that came after Tesla, Square and other companies added the major cryptocurrency to their balance sheets.

We are very bullish on Bitcoin in particular, Woodtold Benzinga said in an interview.

Bitcoin reached an all-time high of $68,789.63 in November 2021 and saw its price decline in 2022 after several major cryptocurrency companies went bankrupt and collapsed.

Despite the setbacks in the crypto industry, Wood has remained positive about the future of digital assets in recent interviews.

Sometimes you have to do combat tests, go through crises, to see the real survivors, Wood told Bloomberg.

In an interview with Yahoo Finance, Wood pointed out that Bitcoin is a safety net for investors.

Hyperinflation all over the world as their currencies crashed, these populations need an insurance policy like bitcoin, Wood said.

In its latest Big Ideas report, Ark Invest set out several price targets for Bitcoin. The research report compiled by Ark Invest sees Bitcoin hitting 2030 price targets of $258,500 in the bearish forecast, $682,000 in a mid market, and $1.48 million in a bull market.

The Wood and Ark funds remain bullish on Bitcoin and have increased their holdings in many ETFs to coincide with this thesis.

The Coinbase Global COIN cryptocurrency trading platform is among the top holdings of Ark Next Generation Internet ETF ARKW, Ark Fintech Innovation ETF ARKF, and Ark Innovation ETF ARKK.

The Grayscale Bitcoin Trust GBTC is also one of the top ten holdings of the Ark Next Generation Internet ETF.

Related link: How to buy bitcoins

Investing $100 in Bitcoin: Here’s a look at the value of an investment in Bitcoin today according to various price targets from Wood and Ark Invest.

A $100 investment today could buy 0.003667 BTC based on a price of $27,266.67 at the time of writing.

If Bitcoin hits $1 million as Wood predicted repeatedly, the $100 investment would be worth $3,667.

Here is an overview of the returns under the price targets of TheBig Ideas report.

Bear case, $258,500: $100 today would be worth $947.92. Base case, $682,000: $100 today would be worth $2,500.89. Bull case, $1.48 million: $100 today would be worth $5,427.18.

Read Next: Cathie Wood Says Bitcoin Will Hit $1 Million Jim Cramer Says Yes, and I ‘Step on Water’ in the Sea of ​​Galilee

Photo: Benzinga YouTube and MidJourney

[ad_2]