Cathie Wood predicts Bitcoin could soar to $3.8 million by 2030

Wood stated: “Last year, we predicted a bullish scenario for Bitcoin with a target price of $1.5 million. With the SEC giving the green light for institutional investments, our analysis suggests that if institutional investors allocate more than 5% of their portfolio to Bitcoin, as we believe they will in the future, this alone will increase the predicted price by $2.3 million.” Cathie Wood, speaking at a conference hosted by Reflexivity Research, also mentioned that in the 12 months following the halving events in 2012, 2016, and 2020, Bitcoin price increased by 8,069%, 284%, and 559% respectively. She expects the upcoming halving event to have a similar effect.