Ark Invest CEO Katie Wood expects bitcoin to rise to $ 500,000 within five years, while at the same time becoming more convinced of the prospects for Ethereum.
In a conversation with CNBC, Wood explained that the consistency of her forecast will depend on whether companies continue to diversify their reserves with Bitcoin and whether institutional investors decide to place 5% of assets in it.
“We believe that the price will be 10 times higher than today’s. That is, instead of $ 45,000, there will be $ 500,000, ”she said.
The head of Ark Invest noted that if she had to choose any one cryptocurrency, she would not hesitate to give preference to bitcoin, “because states now consider it a means of payment.”
Wood also highlighted the potential of ether, proposing to allocate 40% of the cryptocurrency portfolio to it, and 60% to Bitcoin.
“Ether, however, is experiencing an explosion of developer activity thanks to NFT and DeFi. I am fascinated by what is happening in DeFi, which is dramatically reducing the cost of infrastructure for financial services. I know that the financial industry does not welcome this now, she added. “Our confidence on the air has skyrocketed as we watched the transition from Proof-of-Work to Proof-of-Stake. We will, however, probably continue to adhere to the strategy of 60% in bitcoin and 40% in air. “
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