2491: Cathie Wood Calls for $750,000 Bitcoin - Wall Street's Biggest Investors Are PILING IN

Cathie Wood said Ark Invest’s base-case Bitcoin price target is $750,000 per coin by 2030, with a bull-case target of $1.25 million. She said asset allocators are currently short Bitcoin and long gold, and may gradually rebalance by establishing their first Bitcoin positions. The host argued that institutional buying has been underway since 2024, with another wave of major allocators reportedly considering initial positions. Even small portfolio allocations, the host said, could create substantial demand.

The host framed that potential demand against a limited and increasingly unavailable supply. Bitcoin’s supply is capped at 21 million, while long-term holders control an estimated 16 million, or 80% of circulating supply, according to the host. The host also estimated that 3 million to 4 million BTC may be lost. These figures suggest that the amount available to purchase at any given price could be substantially smaller than the total supply cap, though the estimates do not establish how much Bitcoin holders would sell.

Strategy remains a major corporate holder and buyer. As of October 18, Michael Saylor said the company held 848,517 BTC and $5.3 billion in USD assets. Strategy acquired 267 BTC, repurchased $193 million of STRC, and increased its digital-asset-securities repurchase program from $2 billion to $3 billion. Strive announced a $100 million purchase of 1,223 BTC and had bought more than 9,000 BTC that month, according to the host. The host said more than 200 corporations now hold significant Bitcoin positions or strategic reserves.

Metaplanet received shareholder approval to launch its Bitcoin strategy in the United States and plans to issue digital credit stock on Nasdaq. Its Bitcoin holdings grew from fewer than 10,000 BTC a year earlier to more than 50,000. The host described Metaplanet as Japan’s largest corporate Bitcoin holder and the second-largest corporate holder after Strategy. The company’s expansion, alongside Strategy’s continued buying and Strive’s purchases, illustrates the range of corporate accumulation described in the episode, from established large holdings to newer initiatives.

Payment networks and banks are also moving toward broader Bitcoin and crypto access. Visa announced a partnership with Mesh to bring Bitcoin and crypto payments to 175 million merchants, while Mastercard is expanding its crypto team. The host argued that major payment networks need to adapt to Bitcoin and crypto or risk being left behind. In Germany, savings banks are beginning to offer Bitcoin trading through their existing banking app, with the first customers gaining access that day; another 30 to 40 participating banks are expected to join each month. The host said Sparkasse’s 40 million customers will have access to Bitcoin through the app.