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HomeNewsBitcoin course of $ 500,000? - Cathie Woods bullish on BTC

Bitcoin course of $ 500,000? – Cathie Woods bullish on BTC




How high can the Bitcoin price rise? – This question is considered a crucial question in the crypto market for many investors. Cathie Wood, CEO of the investment company Ark Invest, gives insights into her personal forecast.

Cathie Wood and the ARK Innovation ETF

Cathie Wood is one of the best-known investors in the world and is the managing director of the US investment company Ark Investment Management LLC. The company primarily offers actively managed ETFs, with the flagship ARK Innovation ETF being the world’s largest actively managed ETF.

The focus of all ETFs is on disruptive technologies, with Wood’s company investing specifically in growth sectors such as artificial intelligence, gene editing, robotics, energy storage and, of course, cryptocurrencies.

The 10 largest positions of the Ark Innovation ETF include two companies, Coinbase and Square, that are directly related to Bitcoin and Co.

Forecast: Bitcoin price of 500,000 US dollars in 5 years

So if you look at the positions of the ETF, it is hardly surprising that Wood sees himself as an advocate of cryptocurrencies. The success of your company and the individual ETFs gives Wood great relevance in the crypto market, so that your statements and forecasts are always closely monitored.

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In a recent interview with CNBC Squawk Box, Wood now also spoke about her personal price forecast for Bitcoin (BTC) and Ethereum (ETH).

When asked where you see the Bitcoin price in 5 years, Wood replied:

I believe we’re seeing more than a tenfold increase in value based on the current level. So at $ 45,000 that’s over $ 500,000.

Of course, Wood also provides arguments for such a bullish forecast. In her opinion, the focus here is on the continued expansion of institutional investors in Bitcoin. In other words, if companies continue to invest part of their liquid funds in a crypto currency such as Bitcoin for the purpose of diversification, then one will see price growth in the dimension they have forecast.

Ethereum as a strong alternative to BTC

The crypto currency Ethereum (ETH) also received positive words from the investor and company boss. When asked which cryptocurrency she would choose if she had to choose just one, Wood replied that this answer was getting harder and harder.

This is mainly due to the strengthening of Ethereum, which is currently in the transition from proof-of-work to proof-of-stake. In your perspective, this leads to an unbelievable dynamic, which is also moving the focus of you and Ark Investment in the direction of the second largest cryptocurrency.

The fact is that a tenfold increase in the Bitcoin price from today’s perspective puts the market capitalization of the cryptocurrency on the same level as that of gold. This would make Bitcoin – like gold – the world’s largest reserve currency. What is particularly exciting about the statement is the time horizon, which Wood sets at 5 years. Accordingly, this would be exactly one year after the upcoming halving in 2024. If you look retrospectively at the Bitcoin price developments 12 – 18 months after the respective halving events, high price values ​​could always be observed here.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
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