In February, Cathie Wood of Ark Invest made headlines when she raised her firm's 2030 price target for Bitcoin (CRYPTO: BTC) from $1 million to an eye-popping $1.48 million. Now, six months later, she's doubling down on that price forecast, more convinced than ever that Bitcoin is on a trajectory to $1 million and beyond.

So is she right? Certainly, $1.48 million sounds like an outlandish forecast, even for Bitcoin. After all, Bitcoin is still trading around $30,000, nearly 60% below an all-time high of $68,789. But Wood says she has the numbers to back up her assertions, so let's dig in.

According to Wood, Bitcoin is the perfect "insurance policy" for an uncertain economic world. What convinced her more than anything was Bitcoin's performance during the regional banking crisis earlier this year, when Bitcoin skyrocketed from $19,000 to $30,000. That nearly 60% gain signified to Wood that Bitcoin was increasingly being viewed as a safe haven in an unsafe world. During any "flight to safety," investors would rush to move their money into Bitcoin.

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Source Fool.com