Ark Invest's Cathie Wood is a big believer in Bitcoin (CRYPTO: BTC). She launched Ark's first spot price Bitcoin exchange-traded fund (ETF) in January once regulators gave their approval.

Earlier this year, Wood raised her price target from $1 million to $1.5 million by 2027 -- which would represent a whopping 2,139% jump from Bitcoin's recent price of about $67,000. Wood expects that explosive growth to be driven by three tailwinds: the approvals of Bitcoin ETFs, institutional purchases of those ETFs, and the expected halving next month, which will cut the rewards for mining Bitcoin in half.

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Source Fool.com