In a resounding statement, Cathie Wood, CEO of ARK Invest, highlights the untapped potential of bitcoin despite its recent historic crossing of $100,000. The financial visionary compares crypto's meteoric trajectory to that of giants like Apple and Amazon, suggesting the best is yet to come.
Cathie Wood compares Bitcoin to Amazon and Apple
On December 5, 2024, bitcoin crossed the symbolic threshold of $100,000, reaching a capitalization of $2,000 billion in just 16 years of existence. This performance is all the more remarkable as it surpasses the speed of expansion of emblematic companies: Apple required 42 years to reach this level of capitalization, while Amazon achieved it in 29 years.
Currently, with a valuation of $102,750, bitcoin dominates 52.6% of the crypto market, whose total capitalization amounts to $3.9 trillion.
The American political context reinforces this positive dynamic, in particular with the announced appointment of Paul Atkins, favorable to cryptos, to succeed Gary Gensler at the head of the SEC. This new regulatory direction, coupled with the recognition of Bitcoin as “digital gold” by Jerome Powell, Chairman of the Federal Reserve, consolidates the institutional legitimacy of crypto.
An ecosystem in full transformation
Long-term forecasts suggest new all-time highs by 2025 before altcoins regain investor attention. Despite these optimistic scenarios, the inherent volatility of the cryptocurrency market cannot be overlooked. Investors are advised to remain vigilant and prepared for possible corrections.
Ryan Lee, Chief Analyst at Bitget Research
For Cathie Wood, bitcoin still holds immense growth potential compared to the physical gold market, valued at $15,000 billion. “ Bitcoin is a much bigger idea than gold“, assertsshe, thus emphasizing the digital and cross-border nature of the asset. This ambitious vision translates into a bold prediction: BTC at $1 million by 2030.
Danny Chong, co-founder of Tranchess, supports this optimistic outlook by emphasizing the crucial role of traditional financial institutions. “ The proliferation of institutions like BlackRock, Fidelity, Grayscale, combined with the launch of Bitcoin ETFs in 2024, has set the stage for this major evolution“, he explains.
In short, the growing adoption by institutional investors and the gradual recognition of Bitcoin as a legitimate asset class seem to confirm Cathie Wood's optimistic forecasts. This $100,000 milestone could well be just a stopover towards even more dizzying heights.
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