Here's How Much $1,000 Invested In Bitcoin Today Could Be Worth In 2030 If Cathie Wood's Price Target Comes True
Portfolio Pulse from Chris Katje
Ark Invest CEO Cathie Wood predicts Bitcoin could reach $1.5 million by 2030. Ark Invest's ARK 21 Shares Bitcoin ETF (ARKB) was approved by the SEC, potentially boosting Bitcoin's value. Coinbase Global (COIN), a major holding in Ark ETFs, could benefit from increased Bitcoin demand. A $1,000 investment in Bitcoin could yield returns from 494.7% to 3,304.0% by 2030 based on Ark's price targets.
January 13, 2024 | 3:27 pm
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POSITIVE IMPACT
Ark Invest's ARK 21 Shares Bitcoin ETF (ARKB) recently received SEC approval, which could attract more investors and increase its value in the short term.
The SEC approval of ARKB is a significant milestone that typically leads to increased investor confidence and could result in capital inflows to the ETF, driving up its price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Coinbase Global (COIN), as a large holding in Ark ETFs and a leading cryptocurrency exchange, may experience increased demand and a positive impact on its stock price due to the bullish outlook on Bitcoin.
Coinbase Global stands to benefit from the increased demand for Bitcoin and the related ETFs, which could lead to higher trading volumes and revenues for the company, positively impacting COIN's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70