Cathie Wood Just Delivered Fantastic News for Bitcoin Investors

Bitcoin (CRYPTO: BTC) is on a roll right now. The largest cryptocurrency has gained 25% from the end of October to November 18. It has more than doubled in 2024 with a 114% year-to-date gain. Trading at $91,000 per digital coin today, Bitcoin is resting near an all-time high with a total market value of $1.8 trillion.

And the gains won’t stop there — at least not according to acclaimed growth investor Cathie Wood. She doubled down on Bitcoin’s long-term value creation in a recent interview, even raising her price targets a bit.

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Cathie Wood’s updated Bitcoin price targets

Speaking to CNBC host Andrew Ross Sorkin in last Friday’s Squawk Box show, Wood clarified her Bitcoin views. She had laid out a $500,000 price target in earlier appearances, but she and her fund managers have a more positive outlook now.

Wood sees $650,000 as a base target for Bitcoin in 2030. A more bullish analysis lands between $1.0 and $1.5 million per coin.

“Remember, we were the first public asset manager to gain exposure to bitcoin in 2015 at $250,” Wood said. “And still at $90,000, I think we have a long way to go.”

To explain this bullish view, Wood cited lighter cryptocurrency regulations under the incoming Trump administration and an influx of institutional investor interest. Moreover, she highlighted Bitcoin’s pricing patterns after each halving of mining rewards, especially in times of mild inflation.

“It usually has had a nice big move” under these circumstances. One halving fell six months ago and has arguably not moved the Bitcoin market yet. Another will follow in 2028, well before the 2030 deadline.

Key drivers behind Bitcoin’s potential surge

The bullish catalysts are starting to pile up.

  • A pair of halving boosts could certainly give Bitcoin a large long-term boost over the next five or six years.
  • A more crypto-friendly American government could also result in higher crypto prices, though it remains to be seen exactly how the Trump team will manage issues such as trading, ownership, and taxation in the crypto space.
  • The expected boom in institutional investor activity is supported by the regulatory shift, the recent introduction of Bitcoin-based exchange-traded funds (ETFs), and the increasingly predictable nature of Bitcoin’s long-term price trends.