Bitcoin

Cathie Wood Reiterates $1M Bitcoin Price & Faith in Ethereum

Cathie Wood Reiterates $1M Bitcoin Price & Faith in Ethereum
Cathie WoodPhotographer: Eva Marie Uzcategui/Bloomberg

Cathie Wood of ARK Invest is bullish on Bitcoin and Ether. She remains true to her prediction that the price of BTC will rise to $1 million by 2030, and Ether could become the subject of mass institutional adoption in the coming years.

Despite the collapse of FTX and the downturn in the cryptocurrency market, ARK Invest founder and CEO Cathie Wood remain extremely optimistic about the two most significant cryptocurrencies. The collapse of the FTX cryptocurrency exchange exacerbated the problems in the crypto sector and made investors extremely wary. Experienced players continue to strengthen their positions, but institutional and small investors are scared.

However, Wood, in a recent interview with Bloomberg, once again confirmed her prediction that Bitcoin is approaching $1 million per coin. In her opinion, this state of the crypto market could be useful, as it shows which projects are valuable:
“Sometimes you need to go through a crisis to see the survivors. Bitcoin is coming out of this smelling like a rose.”
Although the future of Bitcoin looks bright in Wood's eyes, she is also aware of the negative aspect of the current market situation. She said that the only downside is the decline in interest from large institutions. However, Wood emphasized that they will soon realize the merits of Bitcoin and embrace it. She concluded that enthusiasm for BTC should return in the next couple of years, which means that by 2030 it will reach the milestone she expected.

In addition, Wood is also optimistic about Ether. She stressed that it could become the subject of mass institutional adoption in the coming years.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts; follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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