Ark Invest’s Cathie Wood continues to stand by her uber-bullish Bitcoin price at $1 million
The chief executive of investment management company Ark Invest, Cathie Wood, stands by her company’s forecast that Bitcoin price will probably reach $1 million by 2030. “You know, sometimes you need to battle-test, you need to go through crises to see the survivors first,” said the noted investor.
— Bloomberg (@business) November 22, 2022
Bitcoin Price Will Hit $1 Million, Says Superstar Investor Cathie Wood
Wood has acknowledged that the current scandal will probably postpone institutional adoption. Famous investors will take a step back to assess their level of understanding of Bitcoin. After doing their research, the celebrity investor is confident that institutional players may even become more at ease with Bitcoin. She continued, “I think they could be more comfortable getting into Bitcoin and, possibly, Ether as a first stop after they actually do the study and see what’s transpired here. Wood is confident that institutions must learn more about the two most prominent cryptocurrencies.
In its “Big Ideas 2022” outlook study from January, Ark Invest predicted that Bitcoin would reach $1 million by the start of the next decade. The positive forecast is predicated on the idea that national governments will begin accepting the biggest cryptocurrency as legal tender. Additionally, Ark Invest anticipates Bitcoin capturing a larger share of the market for international payment settlement. Before that, the prominent fund manager forecasted that Bitcoin would be able to reach the $500,000 threshold by 2026. She claimed that if institutional investors invested at least 5% of their assets in the leading cryptocurrency, such an ultra-bullish target would be feasible.
At the time of publication, Bitcoin is worth $16,691.
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