Cathie Wood, CEO of ARK Invest, remains bullish about Bitcoin’s future prospects. In a recent interview with Bloomberg, she suggested that significant political and regulatory changes could push the cryptocurrency to new heights. Specifically, Wood pointed to the election of Donald Trump as a potential catalyst for increased M&A activity due to his plans to loosen regulatory restrictions.
One such area where Wood sees potential for liquidity events is the Federal Trade Commission (FTC). She believes that under Trump’s administration, the FTC may become less restrictive towards mergers and acquisitions, leading to greater price discovery and potentially driving up the value of Bitcoin.
Wood also reiterated her bold prediction that Bitcoin could surpass $1 million by 2030. This projection is based on the recent rally in Bitcoin prices, which saw it climb above $108,000. According to Wood, the limited supply of Bitcoin (capped at 21 million coins) combined with its increasing scarcity makes it a unique asset with immense value potential.
While some may view Wood’s investment philosophy as risky due to the high-stakes nature of her bets on emerging technologies like Bitcoin and Tesla, her track record speaks for itself. Her ARK Innovation ETF, valued at $6.7 billion, has experienced significant volatility but has also generated considerable returns for investors.
Moreover, Wood expressed confidence in Elon Musk’s latest venture aimed at streamlining government operations. She believes Musk’s firsthand experience dealing with regulatory hurdles makes him well-suited to drive meaningful change in governmental structures, potentially creating a more conducive environment for innovation.
Source
As per reported by www.bitcoininsider.org
