Ark Invest CEO Cathie Wood said that the rise in the price of Bitcoin during the banking crisis has led to more institutional investors. cryptocurrency He thinks it will attract him to the market.
Speaking to Bloomberg, Wood said:
“It was quite instructive that Bitcoin in particular moved so differently from the equity markets.”
Wood said that corporate treasuries had previously hesitated to have Bitcoins on their balance sheets because regulators had forced them to sell them.
Wood believes investors should further diversify their portfolios with digital assets. In a report targeting institutional investors, Ark recommended that they dedicate between 2.5% and 6.5% of their portfolios to cryptocurrencies “if they care about this new asset class diversifying their portfolios”.
This distribution will be similar to the size institutional investors have historically allocated to emerging asset classes, Wood said.
Cathie Wood is an American investor and the founder and CEO of Ark Invest, an investment management firm focused on groundbreaking innovations. She is a name known for her investment strategies in the financial sector, especially in the technology sector.
Wood has been a strong supporter of Bitcoin and other cryptocurrencies, and his firm has invested in various companies involved in the cryptocurrency industry. The famous name believes that Bitcoin and blockchain technology have the potential to disrupt various industries and transform the global financial system.
Wood is also optimistic about the price of Bitcoin and predicts that the cryptocurrency could reach a price of $500,000 in the long run.
*Not investment advice.
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