Bitcoin prices, according to Cathie Wood, will increase tenfold in five years, reaching $500,000. On Sept. 13, the Ark Invest CEO made a big prediction while chatting with CNBC anchor Andrew Ross Sorkin.
Cathie Wood Predicts
Cathie went on to say that this forecast is contingent on corporations and institutional investors diversifying their portfolios by devoting 5% of their holdings to Bitcoin.
“We anticipate the price will be ten times higher than it is now. So instead of $45,000, it will be over $500,000.”
The financial expert went on to say that if she could only own one cryptocurrency, she would choose Bitcoin. Since “countries are now considering its legal tender.” Still, Ether is witnessing a surge in development activity.
Optimism About Ethereum
Cathie Wood is also optimistic about Ethereum, which has risen 360% since the start of the year. She stated that it would most likely split Ark’s future exposure to crypto assets to 60% Bitcoin and 40% Ethereum.
Wood went on to say that now that the shift to proof-of-stake has begun, the company is considerably more confident in Ethereum. Cathie went on to say that decentralised finance is equally intriguing, particularly because of its potential to disrupt traditional finance.
“What’s going on with DeFi fascinates me because it’s lowering the cost of infrastructure for financial services in a manner that I know the traditional financial sector doesn’t understand right now.”
Cathie was adamant that crypto would not be over-regulated. Therefore, claiming that no regulator wants to be responsible for the next great financial innovation.