Cathie Wood, CEO and co-founder of Ark Invest, is known for her assertive and important statements about the leading cryptocurrency Bitcoin. Wood has been consistently supporting the leading cryptocurrency, and in his latest statement, he said he thinks it could see $500,000 soon.
Speaking at Wall Street’s SALT conference, Wood emphasized that he expects BTC to see $ 500,000 in as little as 5 years. Wood, one of the veteran names of the investment world, underlined that BTC can only reach this level with the institutional investor’s 5% portfolio allocation.
5 Years for $500,000
Wood originally voiced his $500,000 price prediction for BTC back in May. The market, on the other hand, fell sharply after this forecast and Wood’s forecast was not taken into account at that time. Despite this, Wood continued to buy BTC consistently, and Wood’s company, the Ark NEXT Generation Internet ETF, currently holds a $301 million Grayscale Bitcoin ETF. Wood also indirectly applied for a Bitcoin ETF, but no approval has yet been received from the US.
Wood, who is one of the most famous on Wall Street and established a billion-dollar venture capital with his investments, definitely draws attention to his statements about Bitcoin. BTC, on the other hand, has lost a bit of its positive performance recently and is struggling to survive in the support of $ 46,000.