Cathie Wood Raises Bitcoin Target to $1.25M as Exchange Supply Hits 7-Year Low

BTC-0.83%
According to mid-June reports, Cathie Wood, founder of ARK Invest, raised her five-year Bitcoin price target to $1.25 million in the bull case scenario, with $750,000 as the base case. Bitcoin was trading near $65,000, implying potential gains of approximately 1,900% to reach the bull target. Wood's call comes as Bitcoin exchange reserves fell to 2.71 million BTC, levels last seen in May 2019, indicating less supply available for sale.
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