Cathie Wood New Bitcoin (BTC) Prediction For Beyond $500,000 – Crypto News – Crypto News
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Cathie Wood New Bitcoin (BTC) Prediction For Beyond $500,000 – Crypto News

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Cathy WoodChief executive officer of Ark Invest, Cathy Wood reiterated her firm belief in a bullish scenario for the Bitcoin (BTC) price in the years to come. Wood’s funds purchased BTC worth several millions of dollars in the recent past. It is also common knowledge that she is also an invested in Coinbase shares, affirming her belief in the crypto market and the ecosystem. In a latest comment, Wood said Bitcoin and Ethereum, the top two cryptocurrencies, represent the ideas of decentralization and transparency in the best way.

Also Read: US Fed Meet News Live Updates: Bitcoin (BTC) To Reach 25K or 21K?

Wood’s Base Case and Bull Case For Bitcoin

The Ark CEO reiterated her belief in the potential of cryptocurrencies in her latest statement to CNBC on wednesday. She said despite the market collapse due to FTX, Celsius and 3AC in 2022, Bitcoin and Ethereum networks were working seamlessly. As opposed to the idea of ​​decentralization and transparency in crypto networks, these companies were highly centralized and opaque in the way they operated, she added.

“After the crypto fallout this year, this idea of ​​transparency and decentralization is taking hold. Bitcoin and Ethereum are the best manifestations of that in the crypto world.”

When asked if she still stood by her earlier prediction of BTC reaching $500,000 by 2030, Wood confirmed the same. She said it was in fact above the $500K level for the company’s base range and that the bullish scenario is much higher than that.

Also Read: Bitcoin Price Risks Falling to $21,000, US Fed Rate Hike Isn’t the Reason

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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