Ark Invest CEO Katy Wood predicts that despite the slowing sell-off, Bitcoin will still hit $ 500,000.
We are in a time of introspection, but our confidence in bitcoin remains high.
Ark’s Cathie Wood is sticking with her $500,000 target for Bitcoin #TheBusinessweek https://t.co/9eBp5M39Zi pic.twitter.com/VeSRF5fplm
— Businessweek (@BW) May 19, 2021
Wood says the recent correction has raised the chances that the exchange-traded fund will be approved by the US Securities and Exchange Commission. The point is that a product with a lower price is more likely to receive the green light.
Today Bitcoin plunged to nearly $ 30,000 and recovered to $ 41,000.
In addition, the seasoned investor spoke out about the Elon Musk fiasco, suggesting that he was pressured by shareholders such as BlackRock to change the price of BTC. However, she expects him to return to the community:
I believe that after expressing his commitment to Bitcoin, he received a rebuff from institutional shareholders such as BlackRock…. But I think he’ll go back to the mix [разных валют].
Ark Invest actively invests in Tesla and Grayscale Bitcoin Trust (GBTC) shares.
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