Cathie Wood, the CEO of ARK Invest, recently spoke about her bullish stance on Bitcoin (BTC) during an interview with Bloomberg. She believes that significant political and regulatory changes could potentially drive the cryptocurrency’s price up to unprecedented levels. One factor that Wood points to is the election of former President Donald Trump.
She predicts that his administration would encourage more private company acquisitions by removing “regulatory red tape” that has been hampering such transactions. This would create new opportunities for investors and venture capitalists alike. Moreover, Wood expects changes at the Federal Trade Commission (FTC) to stimulate mergers and acquisitions, leading to “liquidity events.” These events would allow strategic buyers to evaluate and bid on innovative companies more effectively, thereby improving price discovery across various markets.
When asked about her bold prediction that Bitcoin could exceed $1 million by 2030, Wood explains that this estimate is based on the recent price rally, which saw BTC reach above $108,000. She argues that Bitcoin’s scarcity – limited to a maximum supply of 21 million coins – makes it even more valuable than gold.
Unlike gold, increasing its price does not necessarily lead to increased production rates. Despite facing criticisms for her high-risk investment strategy, particularly in emerging technologies, Wood remains undeterred. Her ARK Innovation exchange-traded fund (ETF), valued at $6.7 billion, has experienced significant volatility but has yielded impressive returns for investors who share her vision for disruptive sectors like Bitcoin and Tesla.
Moreover, Wood expresses confidence in Elon Musk’s new initiative called the Department of Government Efficiency (DOGE), citing his past experiences with regulatory hurdles as reasons why he could be successful in streamlining government operations. She believes that Musk’s involvement could create a more conducive environment for innovation across various industries.
As of now, Bitcoin is trading at around $97,268, down approximately 4% on a weekly basis. The future remains uncertain, but one thing is clear: Cathie Wood’s optimism towards Bitcoin and other disruptive technologies continues to resonate with many investors who share her vision for a brighter, more innovative future.
Source
As per reported by www.bitcoininsider.org
