Cathie Wood, CEO of Ark Invest, predicts Bitcoin could reach $3.8 million by 2030 if institutional investors allocate more than 5% of their portfolios to Bitcoin. However, entrepreneur and 'Shark Tank' host Kevin O'Leary disagrees with Wood's prediction, stating that such appreciation would require the collapse of the American economy. O'Leary believes that Bitcoin is a hedge against economic downturns but does not foresee a collapse in the near future. He argues that Wood's prediction relies on institutional investment, which he deems highly unlikely. O'Leary points out that Wood has a vested interest in hyping up Bitcoin as Ark Invest has released a spot Bitcoin ETF. He emphasizes that Bitcoin's price is influenced by demand and has a predictable supply, unlike central bank currencies. While a worldwide economic collapse or significant institutional investment could send Bitcoin to new heights, O'Leary believes that these events are improbable. However, he acknowledges that Wood's predictions could influence investors to trade Bitcoin ETFs, including Ark's ETF.
On the other hand, Michael Saylor, the Executive Chairman of MicroStrategy, believes that Bitcoin has the potential to eliminate corporate mortality and bring about 'economic immortality'. Saylor argues that the average lifespan of a company is around 10 years, but Bitcoin can enable companies to last indefinitely. He sees Bitcoin as a revolutionary technology that can transform the global economy by allowing capital to be programmable and enabling global payments without intermediaries. Saylor also highlights the impact of Bitcoin adoption in China and believes that it will fuel the price of BTC. Some analysts view Saylor's vision for Bitcoin as a foundational element for a new era of economic stability and growth. [ca2b5c74] [2a5b0cb1] [579b8918] [624bdc20]