Bitcoin ETF Approval and Price Projections: A Game-Changing Milestone
TL;DR Summary
ARK Invest CEO Cathie Wood predicts that bitcoin could reach $1.5 million by 2030, up from her previous estimate of $1 million, following the SEC's approval of spot bitcoin ETFs. Wood also outlined a bear case of $258,500 and a base case of $682,800. ARK Invest is among the asset managers approved to roll out bitcoin ETFs, which started trading on Thursday. The price of BTC briefly topped $49,000 but is now trading near $46,322. Standard Chartered Bank also predicts a significant rise in bitcoin prices, comparing the bitcoin ETF to the first U.S.-based gold exchange-traded product.
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