Ark Investment Management CEO Cathie Wood expects the price of bitcoin to be more than $500,000 in five years’ time, which is over 10 times what it is today. She also shared her view on cryptocurrency regulation and Coinbase’s trouble with the U.S. Securities and Exchange Commission (SEC).
Cathie Wood’s Ark Invest Predicts $500K Bitcoin
Cathie Wood, the CEO of Ark Investment Management (Ark Invest), discussed bitcoin and crypto regulation in an interview at the SALT conference Monday. Wood is also the firm’s founder and CIO.
She was asked what bitcoin will be worth five years from now. Wood replied, “If we are right and companies continue to diversify their cash into something like bitcoin, institutional investors start allocating 5% of their funds into … bitcoin, or other crypto,” then:
We believe that the price will be tenfold of where it is today, so instead of $45,000, [it would be] over $500,000.
Wood also commented on cryptocurrency regulation. Based on her meeting with state, local, and federal…