Cathie Wood Sees Bitcoin Heading For $650K As RFK Says Most Of His Wealth Is In BTC

Ark Invest CEO Cathie Wood predicted Bitcoin will reach $650K by 2030 as Robert F. Kennedy Jr. (RFK) says he has put most of his wealth in BTC.

Wood told CNBC’s Squawk Box that Ark’s 2030 price target for Bitcoin is $650,000 in the base case, and between $1 million and $1.5 million in the bull case.

Cathie Wood Says Bitcoin Still Has A “Long Way To Go”

During the interview, Wood said that Ark Invest was the first public asset manager to gain exposure to the largest crypto by market cap after it purchased BTC in 2015 at $250 per coin. Bitcoin has since risen exponentially with the king of cryptos trading at $91,953 as of 3:20 a.m. EST after a 13% surge in the past week.

Despite the parabolic gain in Bitcoin’s value since 2015, the Ark Invest CEO still believes that BTC’s price has a “long way to go.” Much of this predicted momentum, according to Wood, will be ignited by “regulatory relief” in the US after the new Trump administration enters the White House in January.

She added that Ark Invest now views Bitcoin as “a new asset class” as opposed to just a global monetary system. She believes that other “asset allocators” will view BTC in the same way and will want to include the crypto in their investment portfolios for diversification.

RFK “Committed” To BTC

Wood is not the only person bullish on Bitcoin. Former independent presidential candidate Robert F. Kennedy Jr. said that he is a “huge supporter of Bitcoin” in a Nov. 16 X post.

Bitcoin is the currency of freedom , a hedge against inflation for middle class Americans,a remedy against the dollar’s downgrade from the world’s reserve currency, and the offramp from a ruinous national debt. Bitcoin will have no stronger advocate than Howard Lutnik.

— Robert F. Kennedy Jr (@RobertKennedyJr) November 16, 2024

Along with being a “hedge against inflation for middle class Americans,” he believes that Bitcoin is “the currency of freedom” that will “remedy the dollar’s downgrade from the world’s reserve currency.”

This is not the first pro-Bitcoin post by the former candidate. In July 2023, he revealed that he purchased 2 Bitcoin for each of his 7 children.

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