On CNBC, Wood noted that the probability of a bull market has increased on recent news. It is assumed that in the case of a bearish scenario, the value of BTC will rise to $258 thousand, and in the base scenario to $ 682.8 thousand.
The CEO of ARK also confirmed the previous price forecast of $1 million, pointing to a higher hashrate, a long-term supply of holders and the number of addresses with a non-zero balance compared to previous market downturns. Most likely, the SEC’s approval of spot ETFs has increased the bullish mood.
ARK Invest is among the asset managers approved by the SEC to launch Bitcoin ETFs. It is also worth noting that on Thursday, the value of BTC briefly exceeded $49 thousand for the first time since December 2021, but at the time of publication of the article, it is trading at $46 thousand.
ARK Invest is not the only company expecting BTC price growth. Standard Chartered Bank also recently predicted that the value of Bitcoin could rise to the level of $200 thousand by the end of 2025.