Cathie Wood Reiterates $500K Bitcoin Call
I’d disagree with Wood on her $500,000 Bitcoin prediction, it will be much, much higher than that! Aside from that minor quibble, any positivity is smiled upon.
Ark Invest CEO Cathie Wood is an important figure in the crypto space, recently even joining Jack Dorsey and Elon Musk in the B-Word debate. As the chief investment officer of her firm, any calls she makes are especially notable.
In the past, she’s speculated that Bitcoin would reach $500,000. And at the recent SALT Conference, Wood reiterated the call to CNBC anchor Andrew Ross Sorkin.
The prediction depends on institutions allocating just 5% of their total portfolios to Bitcoin. Should that occur, Wood believes “that the price will be tenfold of where it is today,” she said. “So instead of $45,000, over $500,000.”
Wood said if she could choose only one cryptocurrency, it would default to Bitcoin, but then praised Ethereum for its recent growth.