Cathie Wood, CEO of ARK Invest, recently predicted that the total market capitalization of cryptocurrencies could increase by more than 2,100% in the next seven years. Wood believes that the approval of a Bitcoin exchange-traded fund (ETF) could be a catalyst for institutional investment in Bitcoin and other digital assets, driving up the total crypto market cap. She estimates that the current $1.13 trillion crypto market cap could reach as high as $25 trillion by 2030, with Bitcoin comprising more than half of that total. Wood also predicts that Bitcoin’s price could reach $650,000 in 2030, with a more bullish case of about double that.Wood believes that the introduction of a global, private, digital, rules-based monetary system is a big idea that could drive up the value of cryptocurrencies. She also believes that institutional investment could be a major factor in driving up the price of Bitcoin, as the demand for Bitcoin would be much higher than the available supply. At the time of writing, Bitcoin is trading at $27,158.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	Grayscale, SEC, The Daily Hodl, Benzinga, Cathie Wood
Companies	Bitcoin Trust, ARK Invest, Bitcoin, Grayscale, U.S. Securities and Exchange Commission (SEC)
Currencies	Ethereum, Bitcoin
Securities	None