ARK Invest CEO Cathie Wood stated that she remains positive about Bitcoin (BTC).$BTC
Speaking on CNBC’s Squawk Box program on November 15, Cathie Wood recalled that ARK Invest became the first public asset manager to do so by investing in Bitcoin at $250 in 2015. Wood stated that Bitcoin’s current price is around $90,000, and said, “We still think we have a long way to go.” She also emphasized that Bitcoin has gone beyond being just a global currency and should now be considered a new asset class.
“In our base case scenario, we see Bitcoin at around $650,000, and in our bull case scenario, we see Bitcoin at between $1 million and $1.5 million,” Wood said, reiterating ARK Invest’s Bitcoin price forecast for 2030.
Wood said on Nov. 16 that Bitcoin is in a solid position based on on-chain data. He also noted that after the halving event in April, Bitcoin’s supply growth rate dropped to 0.9 percent, which is below gold’s long-term supply growth rate. This could pave the way for Bitcoin to be considered a more inflation-resistant asset.
In a video he published on the X platform on November 11, Wood argued that US financial regulators, especially institutions such as the Securities and Exchange Commission (SEC), should be "stopped" and that focusing on innovative technologies such as artificial intelligence and digital assets would "accelerate" the US economy.
Cathie Wood, who is quite optimistic about the future of Bitcoin, gives hope to crypto investors, while the majority of investors expect the BTC dominance to decline and the altcoin rally to begin.
