Bitcoin (BTC) got off to a rough start in 2022, losing $81 billion in market cap amid a more hawkish Fed and less money pumped into the system. However, big institutional players like Goldman Sachs and Cathie Wood's ARK Invest still think Bitcoin's $100,000 target is in reach.

Cathie Wood’s $500,000 Target

According to Cathie Wood, Bitcoin's price can rise to $0.5 million in five years. The current correction is seen as short-lived and more of a buying opportunity than a bear market.

Goldman’s $100,000 Target

Goldman Sachs believes Bitcoin is like digital gold, and it should rise to $100,000. If BTC continues to steal market share from the most common store of value asset, which is gold, the price of Bitcoin can produce on average an 18% compound annualized return.

Tom Lee’s $200,000 Target

Thomas Lee, the co-founder of Fundstrat Global Advisors, has updated his initial $100,000 target to $200,000 by the end of 2022.

MicroStrategy's $6 Million Target

MicroStrategy's Michael Saylor has a more ambitious long-term Bitcoin target of $6 million. Saylor, a Bitcoin maximalist, believes Bitcoin will replace gold as a store of value asset. Saylor's short-term target is $600,000 by the end of the year.

On the other side of the spectrum, Bridgewater Associates founder Ray Dalio is more moderate and believes it's hard for Bitcoin to rise to a $1 million target.