Catherine Wood Confirms Her Forecast That Bitcoin Will Reach $ 500,000

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Ark Investment Management CEO Catherine Wood once again expressed confidence in the growth of the cryptocurrency market and Bitcoin reaching $ 500,000.

Catherine Wood spoke at the SALT conference in New York. She told CNBC host Andrew Sorkin that her prediction is related to the adoption of cryptocurrencies by companies and institutional investors, as many are diversifying their portfolios and adding digital assets to them.

“We believe that the price of bitcoin will increase tenfold over the next five years. That is, instead of $ 45,000, bitcoin will cost $ 500,000, ”said the CEO of Ark Investment.

Wood said that if only one cryptocurrency could be bought, she would choose bitcoin due to its acceptance as a means of payment. However, according to her, one cannot fail to note the explosive growth of ETH. In the future, the investment company is likely to distribute 60% of the funds for cryptocurrency investments in bitcoin, and 40% – on air.

In addition, the CEO of Ark Investment expressed confidence that regulators are not going to crush the industry, which could become the next major breakthrough in the field of financial technology. Wood also noted the importance of the development of the field of decentralized finance (DeFi).

“I’m surprised at what is happening in DeFi, how much the cost of infrastructure for financial services is dropping. And the traditional financial industry doesn’t understand that yet, ”Wood said.

Earlier, Wood announced the forecast that bitcoin would reach a price of $ 500,000 this spring.

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