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Cathie Wood, CEO of asset manager and crypto ETF issuer ARK Invest, has long maintained her bullish outlook on Bitcoin, and her recent comments reinforce her optimistic projections for the largest cryptocurrency.
Following Donald Trump’s election victory over Vice President Kamala Harris last week and Bitcoin’s recent rise to an all-time high of $93,250, investor sentiment towards Bitcoin has significantly increased. improved.
Regulatory relief planned
In a recent interview On CNBC’s Squawk Box, Wood discussed his expectations for Bitcoin’s price trajectory. She said ARK Invest’s targets for 2030 are between $650,000 and, in a bullish scenario, between $1 million and $1.5 million.
The Ark CEO attributed the current uptrend in Bitcoin’s value to several catalysts, particularly the expected regulatory relief that could come from the new Trump administration.
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The current 47th President of the United States has pledged to significant changesparticularly under the guidance of the United States Securities and Exchange Commission (SEC), led by Gary Gensler and characterized by lawsuits, Wells notices, and increased scrutiny of major industry players.
This sparked notable discontent during the final three years of his tenure at the regulatory agency, prompting executives and investors in the digital asset ecosystem to call for change towards a clearer regulatory framework that could encourage further market adoption and growth.
However, Trump promised to fire Gary Gensler on the first day of his new administration, which is scheduled to begin on January 20. He also pledged to make America the “crypto capital of the world” with a new framework and support for digital assets, with Bitcoin at the center of its economy. agenda.
This resonated favorably with industry advocates, as evidenced by the broader market rally, led by the market’s largest digital assets, which are up nearly 25% since Trump’s election victory.
Bitcoin as a unique asset class
During the interview, Wood also pointed out that ARK Invest was the first public asset manager to invest in Bitcoin when its price was only $250 in 2015. The asset manager believes that even At around $90,000, Bitcoin still has significant value. growth potential.
According to Wood, Trump’s victory is crucial because it signals a move toward a more favorable regulatory environment for the cryptocurrency industry, an outcome she sees as crucial to the future of Bitcoin.
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Furthermore, Wood pointed out that Bitcoin has become a distinct asset class, separate from traditional currencies. She believes that this change indicates that institutional investors and asset allocators are increasingly looking to include Bitcoin in their portfolios, recognizing its potential as both a store of value and a hedge against inflation.
At the time of writing, BTC is hovering around the $90,120 mark, still up 16% on the weekly timeframe, despite the current retracement seen over the past 48 hours.
Featured image of DALL-E, chart by TradingView.com
