Mark Yusko, CEO of Morgan Creek Capital management predicts $300 billion in inflows once a bitcoin ETF is approved by the SEC. "Institutional investors have been cautious about entering the crypto space due to regulatory uncertainties and concerns about custody,” Yusko offered in the interview.
Cathie Wood, CEO of ARKARK Invest recently communicated her optimism in an interview with Financial News earlier this month. She stated that “the odds are going up” that the SEC will approve her firm’s application for a spot bitcoin ETF. According to a Forbes report, the SEC is now actively engaging with spot bitcoin ETF hopefuls, a potential sign of positivity after years of disappointment.
Bitcoin Price Could Reach $1.5 Million By 2030, Predicts ARK Invest CEO Cathie Wood
Cathie Wood, the CEO of ARK Invest, has reiterated her bullish Bitcoin price prediction of $1.5 million by the year 2030. She cites the recent approval of the Bitcoin spot ETF in the US as increasing the "probability of the bull case."
On Thursday, Wood went on CNBC and stated that her base case scenario sees Bitcoin reaching $600,000 by the end of the decade. However, under more optimistic conditions, Wood believes the leading cryptocurrency by market capitalization could surge over 3,000% from current levels and trade at $1.5 million per coin. This revises her previous forecast of $1 million which she gave last year.
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