Ark Invest is an American company specializing in investment management. Recently, Cathie Wood, the CEO of the company, was interviewed by the journalist of Bloomberg, Tom Mackenzie. During the interview, the head of the company discussed various topics such as the series of interest rate hikes by the Fed. She also made a prediction about the price of bitcoin (BTC) in the coming years. Here is what she said.
Ark Invest CEO Predicts Bitcoin (BTC) Rise to $1 Million
During her interview, the CEO of Ark Invest said noted that institutional adoption of bitcoin (BTC) has increased with the bear market. She said that institutional investors took advantage of the fall (by around 70%) in the price of BTC to get into the sector. She believes that institutionstake this price drop from nearly $70,000 to around $20,000 as an opportunity to enter a new asset class“.
Cathie Wood also said that she expects the price of the flagship crypto to rise. According to her, bitcoin (BTC) could increase by around 4,600% from its current priceby 2030. So the crypto, which is currently trading around $21,000, could be worth $1 million in less than 10 years.
CEO of Ark Invest thus joins the CEO of the exchange EXMOwho had also argued that BTC would reach $1 million in 2030. Serhii Zhdanov then said: “Nothing has fundamentally changed for Bitcoin, it’s a global capital crisis and Bitcoin is affected in the short term, but it will recover“.
Recession won’t last forever, says Ark Invest CEO
Cathie Wood spoke about the recession during her interview. Regarding this subject, she concretely stated: “Many forecasters can say it will go on forever. But, we think this is just a major fix; and then we’ll be on our way“.
In fact, the CEO of Ark Invest expects a major recovery in the crypto market. She believes that the end of the bear market is near, contrary to what the most pessimistic analysts believe.
Since the beginning of 2022, digital assets have had to face several phases of falling prices. While many expect the decline of the new industry, the CEO of Ark Invest predicts a remarkable uptrend.
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