Katie Wood: BTC will be worth $1 million by 2030

Well-known investor and founder of one of the fastest growing and most efficient investment companies in the world ARK Invest Katie Wood said that the value of bitcoin could reach $1 million by 2030. 

Speaking at the Bitcoin 2022 event held in Miami, Wood noted that bitcoin today is the world's first global private digital money system with open source, rules–based. At the same time, she recommended this cryptocurrency as the main refuge against the background of the current price pressure on the world stage.

«Bitcoin is an excellent protection against inflation and protection against risks,» Wood stressed.

She also clarified that 70% of investors in bitcoin retain their positions in the long term and approximately 13.5 million units out of 19 million BTC are in long-term possession. Moreover, bitcoin, being the leader among all cryptocurrencies with a capitalization of $830 billion, has increased its liquidity by 10 times. However, the volatility of this digital currency remains high, which scares away traditional investment banks and large companies.

In her speech, Katie Wood also noted that bitcoin could exceed the estimate of $1 million after 2030. Wood predicted that in 8 years, 2.5% of institutional assets will be assigned to bitcoins. Moreover, the policy around BTC is gradually changing. And if a year ago, US Treasury Secretary Janet Yellen spoke about bitcoin exclusively within the framework of the possibility of money laundering and harming the environment, today cryptocurrencies are perceived more positively.