Bitcoin still has 'a long way to go' at $90K: Cathie Wood
The continued market momentum would be driven by “regulatory relief,” one of the most important things coming out of the new administration, said ARK Invest’s Cathie Wood.
Bitcoin may have recently hit a new all-time high at above $90,000, but ARK Invest’s Cathie Wood says it still has a “long way to go.”
She pointed out that Ark was the first public asset manager to gain exposure to Bitcoin in 2015 at $250, “and we still at $90,000 think we have a long way to go,” she said in an interview on CNBC’s Squawk Box on Nov. 15.
Wood continued to explain that the continued momentum would be driven by “regulatory relief” which was one of the most important things coming out of the new administration.
We’re looking at Bitcoin BTC$90,645 now being viewed as a new asset class, she said before adding that it is “not just a global monetary system, it is a new asset class and what that means is institutions, and asset allocators are saying ‘this asset is behaving differently from all our other assets and we need to include it.’”
