Institutional Investors To Send Bitcoin Above $1M Ark Invest has always been bullish on Bitcoin’s prospects and has increased their expectations on the large-cap crypto after the Trump win, which automatically created a possibility for reshuffling the hostile regulatory landscape. Ark Invest CEO Cathie Wood and her company’s position on Bitcoin is no surprise, considering that Ark Invest was the first public fund manager to invest in Bitcoin. She has sustained her belief in Bitcoin as a currency and technology all these years. During a CNBC interview in November, Wood laid out her company’s 2030 target for Bitcoin. “In our base case, it’s around $650,000. In our bull case, it’s between $1 million and 1.5 million dollars,” said Wood. Wood doubled down on her prediction in a recent interview with Bloomberg anchor Romanie Bostick, when she was asked if she still sticks to her predictions of Bitcoin “hitting some of those lofty milestones” she’d previously talked about. “…Now that we are going to get more regulatory greenlights, we are seeing more institutional focus on this new asset class,” replied Wood. The Ark Invest Founder stated that institutional investors will sooner or later begin taking into consideration the low supply of Bitcoin – capped at 21 million units which at the moment has over 19.5 million units already in circulation. “If institutional investors are looking at this new asset class more seriously,…they must consider an allocation. And so supply-demand; they are doing the arithmetics. And we see a million to a million and a half by 2030,” she added. Check out the full article 👇 https://lnkd.in/gTDUkAeB
