How Much $100 In Bitcoin Today Could Be Worth In 2030 If Cathie Wood's Price Prediction Comes True (2024)

How Much $100 In Bitcoin Today Could Be Worth In 2030 If Cathie Wood's Price Prediction Comes True (1)

Ark Invest CEO Cathie Wood is one of the most well-known names in the world of stocks and investing. She is also a big believer in the future value of cryptocurrencies like Bitcoin (CRYPTO: BTC).

Here’s a look at how much a small investment in the leading cryptocurrency could return if her big target price is reached.

What Happened: Wood has thrown out price targets of $400,000 and $500,000 for Bitcoin. She then backed a price target of $1 million, as discussed by Ark analyst Yassine Elmandrja in a report.

Related Link: How To Buy Bitcoin

While the price of Bitcoin has traded between $15,599.05 and $59,367.97 over the last year, it did hit an all-time high of around $69,000 in November 2021.

A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing.

If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.

Over the next eight years, the hypothetical investment would have average annual returns of 746.3% if the price target is reached.

Why It Matters: Wood has called for increased use cases for cryptocurrency and more companies to add exposure to their balance sheets.

Wood has added large purchases of cryptocurrency-related companies to the Ark Invest portfolio. Among the largest crypto related holdings in the Ark Invest ETFs are the Grayscale Bitcoin Trust (OTC:GBTC) and Coinbase Global (NASDAQ:COIN).

The Grayscale Bitcoin Trust is the eighth largest holding in the Ark Next Generation Internet ETF (NYSE:ARKW) at 5.1% of assets.

Coinbase is the seventh largest holding in the Ark Next Generation ETF, the 14th largest holding in the Ark Innovation ETF (NYSE:ARKK) and the third largest holding in the Ark Fintech Innovation ETF (NYSE:ARKF) at 5.3%, 3.5% and 6.2% of assets respectively.

As for the bankruptcy of FTX and other problems for cryptocurrency platforms in 2022, Wood says they're a short-term setback and Bitcoin could come out “smelling like roses” in the future.

The fact that companies like Tesla Inc (NASDAQ:TSLA), Block Inc (NYSEP:SQ) and MicroStrategy (NASDAQ:MSTR) are adding Bitcoin to their balance sheets is a positive sign, Wood says.

“Sometimes you need to battle test, go through crises, to see the real survivors,” she told Bloomberg.

Wood said Bitcoin hash rate has hit an all-time high and also discussed Ethereum (CRYPTO: ETH) staked value hitting all-time highs.

Last year, Wood said that if all corporations put 1% to 10% of their cash balance into Bitcoin, the valuation of the leading cryptocurrency could rise significantly.

“What’s the reason not to diversify?” Wood asked at the time.

In an interview with Benzinga, Wood said Ark was “very optimistic about Bitcoin in particular.”

Wood also famously predicted in 2018 that Tesla shares would hit $4,000, which at the time was among the highest public targets. Indeed, Tesla shares hit a split-adjusted $4,000 in January 2021.

But with Bitcoin trading significantly under her price target and the industry facing potential setbacks, many will question Wood’s price target. As the saying goes, only time will tell.

Read Next: Cathie Wood Loaded Up On These 3 Crypto Linked Stocks

How Much $100 In Bitcoin Today Could Be Worth In 2030 If Cathie Wood's Price Prediction Comes True (2024)


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