CEO who sees Bitcoin hitting $1M now favors Tesla originally appeared on TheStreet .
ARK Invest's CEO, Cathie Wood, conservatively estimates that Tesla's (TSLA) stock will reach $2,600 per share by 2030, representing a 744% increase from its current price.
Wood's prediction is primarily tied to the forthcoming robotaxi platform, on a podcast called The Diary of a CEO.
She refers to Tesla as potentially redefining its original model of selling electric vehicles for a one-time fee to customers who may rarely or never recharge, a major source of revenue. Instead, Wood argues that the major source of revenue for Tesla will now come from its autonomous vehicles, generating active recurring revenue.
ARK's bold bet on Tesla
Elon Musk, CEO of Tesla, stated on a recent earnings call that Tesla's self-driving cars could function like Airbnb, allowing owners to generate passive income by renting out their cars when they're not in use. Owners could list their vehicles for short-term rentals, converting their idle assets into money-making machines.
This model aligns well with the concept of decentralization underlying blockchain, which suggests that the two could work together. Crypto-based payments and smart contracts could facilitate the easy management and automation of transactions on this type of sharing platform, resulting in precise and quick settlements.
Tesla could generate even more revenue by incorporating blockchain technology and utilizing cryptocurrency for ride payments or subscriptions. Tesla CEO Elon Musk also partnered with Polymarket, a cryptocurrency-based prediction market, for his other company, X.
Wood sees Tesla and its customers having the potential to generate revenue in two ways: through subscription or pay-as-you-go models, depending on the vehicle's usage. If blockchain is incorporated, crypto could exist with both payment structures.
"You could subscribe to the network. It could be either or subscription or à la carte if you don't think you're going to use it that much," said Wood.
Cathie Wood's ARK Invest has made big crypto predictions in the past. She predicts Bitcoin will be worth $1.5 million by 2030 and supports a base case of $700,000. In the most optimistic scenarios, it could be worth $1 million.
ARK's spot Bitcoin ETF
ARK's spot Bitcoin ETF (ARKB) now manages over $2.2 billion, indicating that large institutions are very interested in it. Wood's company also invested $373 million in Circle's initial public offering, which provided access to USDC and blockchain payments.
Interestingly, Kraken has announced that users can now access tokenized stocks of Tesla around the clock, providing investors outside the U.S. with the chance to purchase stocks, bridging the gap between traditional finance and cryptocurrency.
At press time, Tesla is trading at 318.35, up 3.17% over the last 24 hours.
CEO who sees Bitcoin hitting $1M now favors Tesla first appeared on TheStreet on Jun 10, 2025
This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared.