Hold onto your hats, Bitcoin believers! Cathie Wood, CEO of ARK Invest, maintains her bold prediction of a Bitcoin price explosion to a staggering $1.5 million by 2027.

In a recent interview, Wood emphasized that ARK's timeframe for this price surge hasn't changed. She attributes the potential rise to a growing institutional appetite for Bitcoin, driven by its unique characteristics.

"Institutional investors have to consider Bitcoin as a new asset class," Wood argues. "The low correlation of Bitcoin returns with traditional assets makes it highly attractive."

With a capped supply of 21 million coins and increasing institutional interest, Wood believes Bitcoin is primed for a faster price acceleration than ever before.

"The limited supply combined with growing institutional demand creates a perfect storm for Bitcoin's price," she explains. "Every dollar invested by institutions today will have a much greater impact on the price compared to the past."

Wood's unwavering optimism stands in contrast to some recent market corrections. However, her belief in Bitcoin's long-term potential remains strong.