Bitcoin Will Cross Over $500k In 5 Years - Cathie Wood.
2021-09-14 | Big Bob
During, Wall street’s SALT conference, The chief executive of investment management firm Ark invest,
Cathie Wood said, in the next five years, Bitcoin [
BTC] could hit $500,000.
The star investors believe that if institutions keep allocating 5% of their portfolios, the bitcoin’s price could rise ten times.
U.Today reported, Back in May, wood revealed her $500,000 target after the chief coin undergo a major sell-off along with the rest of the market.
ARK's next-generation internet ETF has recently updated its prospectus and make it possible to invest in Canadian Bitcoin-tied-exchange-traded funds. Ark currently holds $301 million worth of shares of Grayscale’s Bitcoin trust.
In June, wood’s Ark and Shares AG joined hands to file a Bitcoin ETF launch in the U.S but the product is yet to be approved. Woods also plans to buy non-fungible tokens on her list.
Cooperation With Regulators
In the conference, Regulatory compliance was the major dominant cryptocurrency-related topic discussed.
Jeremy Allaire, the Circle CEO claimed that working with regulators will surely help to ensure the adopt cryptocurrency broader.
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