Cathie Wood, CEO of Ark Investments, said Bitcoin could be worth more than $1.5 million per coin if institutions allocate about 5% of their portfolios to digital assets. He said there is.
Wood spoke at the Bitcoin Investor's Day Conference in New York on March 22nd.
she said:
“Now that the SEC has given financial institutions the green light for Bitcoin, if institutions allocate more than 5% of their portfolios to Bitcoin, as we expect, we will see a That would be an additional $1,000.”
The company's revised outlook suggests the price of Bitcoin could soar above $1.5 million, consistent with widespread expectations for its integration into the global financial system.
Since major financial institutions have not yet fully embraced Bitcoin, Wood expects there will be further momentum for Bitcoin's value to rise.
mathematically plausible
This stance builds on Wood's previous predictions, particularly her assertion in January that Bitcoin could rise to $1.5 million by 2030 in a bullish scenario. This comes on the heels of the US SEC approving the first spot Bitcoin ETF, which Wood hailed as a pivotal move for mainstream Bitcoin adoption.
Wood has long supported Bitcoin's growth potential and previously set a $1.5 million price target for the flagship cryptocurrency.
Despite the institutional buzz potentially pushing Bitcoin's value to even higher heights, Wood chose not to revise his forecast, but the path to above $3.5 million is mathematically plausible. suggested that.
financial stabilizer
Wood also highlighted the growing importance of Bitcoin, especially in emerging markets, amid global economic fluctuations due to the US Federal Reserve's interest rate hikes.
Wood said Bitcoin acts as a financial stabilizer in economies facing currency devaluation, such as Nigeria. Wood's insights reflect her view of Bitcoin as a safeguard against economic instability (a risk-off asset) and a viable investment during periods of growth (a risk-on asset).
Bitcoin's performance as a hedge against economic uncertainty is further highlighted by Bitcoin's meteoric rise during the US local banking crisis. Bitcoin's limited supply makes it even more anti-inflationary, establishing itself as a unique asset in the financial world.
Wood's vision for Bitcoin goes beyond the status quo, seeing it gaining traction as a cornerstone of future financial landscapes, particularly as a risk-mitigating asset in volatile economies.
Her prediction, strengthened by the emergence of Bitcoin ETFs and the inherent properties of digital currencies, suggests that Bitcoin will challenge traditional investment paradigms and provide a new blueprint for financial stability and growth around the world. I am depicting a future where
