Ark Invest CEO Cathie Wood reiterated her bold prediction that the Bitcoin price could skyrocket to $600,000 in a recent interview with Yahoo Finance.
This prediction comes amid discussions about the potential of Bitcoin and the overall cryptocurrency market, as well as Ark Invest's launch of spot ETFs in collaboration with 21Shares and the expected approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC). came in the period.
Emphasizing the groundbreaking nature of Bitcoin, Wood stated that his company's “base case” as of today is $600,000 to $650,000. He highlighted Bitcoin's unique position as the first global, digital, private, rules-based monetary system, saying this contrasts with the current state of global monetary policy.
According to Wood, Bitcoin's potential stems from its rarity and institutional interest:
“There will only be 21 million Bitcoins in the world, and if the SEC approves a Bitcoin ETF, we think institutions will think their way is clear.”
The meeting also touched on the potential for a spot Bitcoin ETF, a development that Ark Invest is actively pursuing with 21Shares. Wood expressed optimism about the SEC's changing stance, saying, “This time we got answers from the SEC, which means the agency is involved in the matter.”
*This is not investment advice.
