Cathie Wood from ARK Invest doubles the Bitcoin forecast of $ 500,000 and discusses crypto regulation-markets and prices
Cathie Wood from ARK Invest doubles the Bitcoin forecast of $ 500,000 and discusses crypto regulation-markets and prices
Cathie Wood, CEO of ARK Investment Management, expects the Bitcoin award to be more than $ 500,000 in five years, which is more than ten times the value of today's value. She also shared her opinion on the cryptocurrency regulation and the problems of Coinbase with the US stock exchange supervisory authority Sec.
Cathie Woods Ark Invest forecast $ 500,000 Bitcoin
Cathie Wood, the CEO of ARK Investment Management (ARK Invest), discussed Bitcoin and crypto regulation in an interview at the Salt Conference on Monday. Wood is also the founder and CIO of the company.
She was asked what Bitcoin will be worth in five years. Wood replied: "If we are right and continue to do their money in something like Bitcoin, institutional investors begin to invest 5% of their means in ... Bitcoin or other cryptocurrencies," then:
We believe that the price will be ten times today, i.e. instead of $ 45,000, [it would be] over $ 500,000.
Wood also commented on regulating cryptocurrency. Based on her meeting with state, local and state supervisory authorities, she described: "Our work acceptance was from the beginning that ... no supervisory authority wanted to be held responsible for preventing the next major technology breakthrough in the USA."
She continued that she was "really happy" that the chairman of the SEC, Gary Gensler, "understands crypto and in particular understands Bitcoin's advantages". Nevertheless, she noticed: "However, he is a regulator and he is a hardcore regulator."
The CEO from ARK Invest then spoke about the Cryptocurrency Exchange Coinbase Problem With the SEC regarding her credit product and found that she was "shocked" when she heard that Coinbase had received a well. "Are you joking? You haven't even published the product. What is it?" called them out.
"I think what this wells notice does is to call the supervisory authorities that we have to discuss these things because this happens very quickly and I think we will include dishes in the system," said Wood and added:
This happened in Canada. A company called 3IQ sued the regulatory authority there and won in court so that they could output Bitcoin ETFs [Exchange-Traded Funds], and also closed in funds and ether.
she concluded: "So slowly I think that Coinbase is nothing at all and when you saw the reaction of the stock, she hardly moved."
When asked which cryptocurrency she would invest in if she could only choose one, Wood said that she would not use Bitcoin, "because the federal states now see it as a legal means of payment". The manager of ARK Invest refers to El Salvador, where the country Bitcoin law entered force on September 7th btc legal means of payment in addition to the US dollar.
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