Founder and CEO of ARK Investment Management, Cathie Wood believes Bitcoin’s value will reach at least $1.5 million by the time 2030 rolls around, growing
Wood believes the institutional players currently rushing to adopt Bitcoin are late, considering there is only 1 million BTC left to be minted by miners, which represents only around $100 billion worth of untapped capital.
“So they‘re [institutions] just now committing and there’s only $100 billion of new market cap that is going to be created. Whereas they have trillions of dollars under management,” said Wood.
“And so we think there will be a lot of incremental demand, and to satisfy a lot of that demand. Someones going to have to sell,” she continued.
Institutional appetite for Bitcoin
Woods statement indicates a wider trend among institutional investors which are just now discovering the advantages of holding Bitcoin. Back in May, Matrixport analysts found that unlike previous bull markets, the rally that raised BTC to a new all-time high of $111,814 was mostly driven by institutional demand, instead of the retail investors.
This means that more institutional investors such as major companies and financial management firms are crowding the market now more than ever before. In fact, at least 61 corporate treasuries currently hold a combined 3.2% of the total BTC supply according to Standard Chartereds Bitcoin report.
Most recently, Japanese investment firm Metaplanet announced its plans to acquire 210,000 BTC by 2027, aiming to own 1% of the total supply of global BTC. Meanwhile, Michael Saylors Strategy remains the largest corporate holder of BTC, possessing 580,955 BTC as of June 9, holding around 2.7% of the total Bitcoin supply.
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