Bitcoin (BTC) had a turbulent week, reaching a low of $61,000, much lower than its all-time high of $73,750. BTC reclaimed the $69,200 range high as support, signaling the end of the pullback. The top digital currency has finally broken out and is currently trading just above $70,000. The market expects that this trend will persist until it reaches Cathie Wood’s target of $3.8 million. Let’s see what your earnings would be if the Bitcoin price reaches that goal.

Cathie Wood Eyes $3.8M Bitcoin Price 

Ark Invest CEO Cathie Wood believes that the price of bitcoin could hit $3.8 million, thanks to increased institutional adoption and new ETF products. Earlier this year, she predicted Bitcoin hitting $1.5 million by 2030, but recent developments have significantly raised her outlook. Bitcoin has already seen a 44% increase this year, reaching around $63,768 on Friday. Wood emphasized that if institutional investors allocate just over 5% of their portfolios to Bitcoin, it could add $2.3 million to her projection. 

Following SEC approval of spot bitcoin ETFs for firms like Ark, demand for bitcoin has surged, setting new records for ETF inflows. Industry experts anticipate that the upcoming bitcoin halving event in April could further drive demand by causing a supply shock. Wood expects the halving to mirror past events, where bitcoin prices soared by thousands of percentage points. She believes that the financial ecosystem for bitcoin is just beginning to take shape and has great potential for future growth

Current Market Performance of  BTC Price

BTC is trading today at $70,390.79 having increased in value by 4.64 in the past day. Despite facing a stormy week, Bitcoin price increased 8.07%, and recorded surge od 36.12% in the past month. Year to date, the coin has recorded good performance having inceaased by 155%. There is quite a substantial trading activity taking place in the market in regard to the coin. This is demonstrated in the increase in its 24-hour trading volume to record $41.85 billion. With a market cap of $1.38 trillion, Bitcoin  dominates the market by 51.9%, according to CoinMarkeCap. 

How Your Portfolio Will Look Like Should Bitcoin Price Hit $3.8M

Lets consider various scenarios of investments:

Suppose you invested $100 today at the current price of $70,390.79, you will acquire approximately 0.00142 bitcoins. Yet if Bitcoin were to hit Cathie Wood’s estimated goal of $3.8 million, your investment could skyrocket to $5,396.60, resulting in a profit of $5,296.60, reflecting an ROI of 5296.60%.

Now, let’s assume you wanted to increase you investment to $500. This time, you will accumulate around 0.00711 bitcoins at the current price. Incase Bitcoin prices soars to $3.8 million you will see growth in your investment to  $26,983. This will result in a profit of $26,483 and an impressive ROI of 5296.60%.

Similarly, you could invest even a much large investment of $1000. This will grant you approximately 0.01422 BTC at the beginning. Should Bitcoin price meet Wood’s target of $3.8 million, your investment would skyrocket to $53,966. You will secure a profit of $52,966 and an exceptional  ROI of 5296.60%.

Will Bitcoin Hit $3.8 Million in 2030?

Forecasting Bitcoin price involves many variables such as market dynamics, technology, regulations, and sentiment. Cathie Wood predicts Bitcoin could reach $3.8 million by 2030, but this projection is speculative. Investors should research, consider different perspectives, and be cautious in volatile markets like cryptocurrency. Potential gains are significant with modest investments if Bitcoin hits Wood’s target, but conditions may not pan out as assumed.

The post Bitcoin Price : What Will Be My Portfolio if BTC Price Hits Cathie Wood’s Target of $3.8 Million ? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am