Ark Invest CEO Cathie Wood in a recent interview with Yahoo Finance Bitcoin He repeated his bold prediction that the price could skyrocket to $600,000.
This prediction indicates that Bitcoin and general cryptocurrency It comes amid discussions about the market’s potential, as well as Ark Invest launching spot ETFs in collaboration with 21Shares and the expected approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC).
Emphasizing the groundbreaking nature of Bitcoin, Wood stated that his company’s “base case” as of today is $600,000 to $650,000. He highlighted Bitcoin’s unique position as the first global, digital, private, rules-based monetary system, saying this contrasts with the current state of global monetary policy.
According to Wood, Bitcoin’s potential stems from its rarity and institutional interest:
“There will only be 21 million Bitcoins in the world, and if the SEC approves a Bitcoin ETF, we think institutions will think their way is clear.”
The meeting also touched on the potential for a spot Bitcoin ETF, a development that Ark Invest is actively pursuing with 21Shares. Wood expressed optimism about the SEC’s changing stance, saying, “This time we got answers from the SEC, which means the agency is involved in the matter.”
*This is not investment advice.
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