• Cathie Wood, CEO of Ark Invest, predicts that Bitcoin will reach $670,000 within 5 years.
• She believes wealthy individuals can benefit greatly by investing in Bitcoin to protect their wealth from inflation.
• Despite the major losses experienced by the cryptocurrency sector in the past year, ARK Investment Management has kept buying crypto and shares of crypto-related companies.
Bitcoin Price Prediction
The Bitcoin market has been one of the most talked about topics in the finance world for the past few months. As more trading volume comes in and a growing number of investors enter the market, it’s becoming increasingly difficult to predict where Bitcoin’s price will go next. On 2nd February, Cathie Wood, CEO of ARK Investment Management, revealed that they had not expected businesses and governments to adopt bitcoin as quickly as they have. She and her team were surprised by the speed at which it has been embraced and maintained her belief that Bitcoin will experience drastic growth in near future.
Cathie Wood’s Bitcoin Price Target
Wood projected that BTC will reach approximately $670,000 within 5 years and might hit up to $1.48 million by 2030 – that’s a whopping 6,326% appreciation from its current value.Wood accepted that 2022 did not bring good news to the crypto market but she is still confident in her prediction that Bitcoin will surge in worth over coming years due to increasing institutional adoption of cryptocurrencies across businesses & governments worldwide.
Susan Wood’s Confidence In Her Forecast
Despite the major losses experienced by the cryptocurrency sector in the past year, Ark Invest management (led by Cathie Wood) has kept buying crypto and shares of cryptorelated companies with a firm confidence on their forecast on Bitcoins potential growth over long term period .
Wealthy Individuals To Benefit From Investing In BTC
Cathie Wood also believes that wealthy individuals can benefit greatly by investing in it to protect their wealth from inflation due to its decentralized nature & automated digital system based on established rules .
With increased institutional adoption of cryptocurrencies & increasing trend towards bullish predictions for BTC among investors , it is safe to say that there are high chances for BTC reaching an all time high (ATH) of 670k$ within next five years .