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Cathie Wood still sees bitcoin hitting $1 million by 2030 as the current crisis will see the asset 'coming out of this smelling like a rose'.

Cathie Wood reiterated her forecast of bitcoin hitting $1 million by 2030 in a Bloomberg interview Tuesday.  She believes the underlying technology of the blockchain will give bitcoin staying power. "Sometimes you need to battle test, you need to go through crises... to see the survivors."

One of the key factors behind Wood's bullish outlook on bitcoin is the concept of "digital gold." According to Wood, bitcoin has the potential to become a viable alternative to gold as a store of value and hedge against inflation. In a recent interview with CNBC, she cited the increasing demand for bitcoin from institutions and the limited supply of the cryptocurrency as key drivers of its potential value.

Wood is also optimistic about the future of blockchain technology, which is the underlying infrastructure behind bitcoin and other cryptocurrencies. She believes that the adoption of blockchain technology will continue to grow in various industries, including finance, healthcare, and supply chain management, which will drive demand for bitcoin as well.

In addition to these factors, Wood points to the current economic environment as being favourable for bitcoin. With central banks around the world printing vast sums of money to stimulate their economies, there is growing concern about the potential for inflation and currency debasement. In this context, bitcoin's finite supply and decentralised nature make it an appealing option for those looking to preserve their wealth.

Wood remains convinced that bitcoin has the potential to be a game-changing asset. In fact, Ark Invest has made a significant bet on the cryptocurrency, with over 5% of its assets under management invested in bitcoin-related firms.

While it's impossible to predict with certainty what the future holds for bitcoin, Wood's bold prediction serves as a reminder of the potential for significant returns in the cryptocurrency market. Whether or not her prediction ultimately comes to fruition, it's clear that bitcoin and blockchain technology will continue to be a fascinating and potentially lucrative area for investors to watch in the coming years.
