Crypto NewsBitcoinBillionaire Investor Cathie Wood Talks About Her $1.5 Million Bitcoin Prediction: Why...

Billionaire Investor Cathie Wood Talks About Her $1.5 Million Bitcoin Prediction: Why Does She Think So?

Billionaire investor Cathie Wood, CEO of ARK Invest, talked about the price prediction for Bitcoin in her statement.

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Billionaire investor Cathie Wood, one of the well-known names in the cryptocurrency world, recently shared her views on the current state of cryptocurrency regulations and her predictions for the future of Bitcoin.

Wood praised Hong Kong's comprehensive regulatory legislation for cryptocurrencies, stating that it provides a solid foundation for the industry. He suggested that the US follow the example of Hong Kong, as the current regulatory uncertainty in the US is leading to a loss of talent in the industry.

When asked about his prediction for Bitcoin price, Wood stated that he maintained his previous prediction that Bitcoin would reach $1.5 million per coin by 2030. Wood explained that this forecast is based on a survey of institutions, downside volatility rate and volatility analysis.

Last year Wood's estimate was closer to $600,000. However, the recent approval of a Bitcoin spot ETF by the Securities and Exchange Commission (SEC) caused it to revise its forecast upward. Wood believes that if assets were allocated according to modern portfolio theory, a 5% allocation to Bitcoin could increase the BTC price to $1.5 million.

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Wood also discussed the role of US regulators, such as the SEC, in the cryptocurrency market. He noted that these institutions have traditionally been resistant to cryptocurrencies. However, according to Wood, recent cases have led to a better understanding of cryptocurrencies and Bitcoin, showing that they can be bought, sold and regulated safely.

Wood emphasized that an increasing number of US clients are realizing the potential to invest in various asset areas, including cryptocurrencies. He said that Bitcoin, unlike other currencies such as gold, does not depend on many factors and has its own independent trend. This asset independence makes Bitcoin an attractive addition to an asset-commodity portfolio, according to Wood, as it can increase returns on assets and spread risks.

*This is not investment advice.

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