Cathie Wood predicted that private corporate acquisitions would accelerate during the Trump era and that Bitcoin could exceed $1 million by 2030.
Donald Trump’s election will likely lead to an acceleration of private company acquisitions that had previously been slowed by bureaucratic hurdles, investor Cathie Wood said.
Speaking to Bloomberg, Wood, founder of ARK Investment Management LLC, said the changes at the Federal Trade Commission will increase demand for mergers and acquisitions and create “liquidity events” for venture capitalists.
“The FTC (Federal Trade Commission) has been blocking mergers, but that will change,” Wood said in his statements.
“These changes will pave the way for price discovery as strategic buyers begin bidding on innovative companies,” Wood said. “We will eventually see how valuable these companies really are.”
ARK Investment Management CEO emphasized that the Trump administration's policies will support the growth of the US economy and this situation has been noticed by the market.
He also reiterated his ultra-optimistic prediction about Bitcoin, stating that Bitcoin could surpass $1 million by 2030.
Recalling that this year’s rally took Bitcoin above $108,000, Wood said that the new president’s loosening of regulations will accelerate the growth of this asset, which is supported by supply and demand dynamics:
Bitcoin is becoming more scarce than gold. When the price of gold increases, production increases and the increase in supply accelerates, but this is not possible with Bitcoin.
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