{"id":31217,"date":"2023-10-19T22:53:32","date_gmt":"2023-10-20T02:53:32","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31217"},"modified":"2023-10-19T22:53:32","modified_gmt":"2023-10-20T02:53:32","slug":"ark-invests-cathie-wood-reveals-why-bitcoin-will-reach-1-48-million","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/19\/ark-invests-cathie-wood-reveals-why-bitcoin-will-reach-1-48-million\/","title":{"rendered":"ARK Invest\u2019s Cathie Wood Reveals Why Bitcoin Will Reach $1.48 Million"},"content":{"rendered":"

ARK Invest CEO Cathie Wood<\/a> is no stranger to Bitcoin predictions given that the asset manager has previously said that BTC will go to $500,000 and even reach $1 million. As always, Wood remains steadfast in her Bitcoin predictions, coming out once more with an even more daring figure for the pioneer cryptocurrency.<\/p>\n

Cathie Wood Says Bitcoin To $1 Million<\/h2>\n

Cathie Wood, who is the founder and CEO of ARK Invest<\/a>, an investment firm with over $6 billion in assets under management (AUM) has come forward with a new price expectation for Bitcoin. The CEO had a chat<\/a> with Natalie Brunell, hist of the \u201cCoin Stories\u201d podcast, where she made this new prediction.<\/p>\n

As Wood explains, ARK Invest\u2019s research team\u2019s efforts<\/a> have shown that Bitcoin\u2019s growth will be largely driven by institutional adoption. They expect the digital asset to undergo a massive rally as the next decade begins.<\/p>\n

Wood points to the adoption trend of new assets by these large institutional investors and how they often tend to allocate their portfolios. As the CEO points out, between 5% and 6% of institutional investors\u2019 portfolios were allocated to assets such as real estate after the managers had tested the waters.<\/p>\n

Bitcoin could be seen as being in the \u2018testing the waters\u2019 phase where institutional investors are still only putting around 1% into the digital asset to see how it turns out. Then gradually, they expand their allocation until they get to that 5% to 6% range. Now, when this happens, as Wood has pointed out before, BTC will cross the 7-figure mark<\/a>.<\/p>\n\n

Wood tells Brunell that she wants the Bitcoin price to cross $1 million by 2030<\/a>. But this doesn\u2019t mean that the CEO does not expect the digital asset to grow further as she puts it as high as $1.48 million in the next seven years.<\/p>\n

The ARK Invest founder further points out that some companies are already starting to exceed the conservative 1% allocation. \u201cTesla, Square have Bitcoin on the balance sheets. But we make very cautious assumptions and I think the corporate treasury assumption is 2.5% of all cash and cash equivalent in Bitcoin.\u201d<\/p>\n

Wood stated:<\/p>\n

If we\u2019re right and the purchasing power of Bitcoin becomes so obvious in the years ahead, meaning the purchasing power goes up, instead of cash [dollars] staying pretty flat, if not, in real terms, deteriorating, then more and more corporate treasuries are going to be putting Bitcoin on their balance sheets.<\/p>\n

She believes analysts at these companies will ask companies to put money into BTC rather than leave it in cash<\/a> where the value continues to decline.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

ARK Invest CEO Cathie Wood<\/a> is no stranger to Bitcoin predictions given that the asset manager has previously said that BTC will go to $500,000 and even reach $1 million. As always, Wood remains steadfast in her Bitcoin predictions, coming out once more with an even more daring figure for the pioneer cryptocurrency.<\/p>\n

Cathie Wood Says Bitcoin To $1 Million<\/h2>\n

Cathie Wood, who is the founder and CEO of ARK Invest<\/a>, an investment firm with over $6 billion in assets under management (AUM) has come forward with a new price expectation for Bitcoin. The CEO had a chat<\/a> with Natalie Brunell, hist of the \u201cCoin Stories\u201d podcast, where she made this new prediction.<\/p>\n

As Wood explains, ARK Invest\u2019s research team\u2019s efforts<\/a> have shown that Bitcoin\u2019s growth will be largely driven by institutional adoption. They expect the digital asset to undergo a massive rally as the next decade begins.<\/p>\n

Wood points to the adoption trend of new assets by these large institutional investors and how they often tend to allocate their portfolios. As the CEO points out, between 5% and 6% of institutional investors\u2019 portfolios were allocated to assets such as real estate after the managers had tested the waters.<\/p>\n

Bitcoin could be seen as being in the \u2018testing the waters\u2019 phase where institutional investors are still only putting around 1% into the digital asset to see how it turns out. Then gradually, they expand their allocation until they get to that 5% to 6% range. Now, when this happens, as Wood has pointed out before, BTC will cross the 7-figure mark<\/a>.<\/p>\n

Wood tells Brunell that she wants the Bitcoin price to cross $1 million by 2030<\/a>. But this doesn\u2019t mean that the CEO does not expect the digital asset to grow further as she puts it as high as $1.48 million in the next seven years.<\/p>\n

The ARK Invest founder further points out that some companies are already starting to exceed the conservative 1% allocation. \u201cTesla, Square have Bitcoin on the balance sheets. But we make very cautious assumptions and I think the corporate treasury assumption is 2.5% of all cash and cash equivalent in Bitcoin.\u201d<\/p>\n

Wood stated:<\/p>\n

If we\u2019re right and the purchasing power of Bitcoin becomes so obvious in the years ahead, meaning the purchasing power goes up, instead of cash [dollars] staying pretty flat, if not, in real terms, deteriorating, then more and more corporate treasuries are going to be putting Bitcoin on their balance sheets.<\/p>\n

She believes analysts at these companies will ask companies to put money into BTC rather than leave it in cash<\/a> where the value continues to decline.<\/p>\n

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