It is reported that Cathie Wood, the CEO of ARK Invest, predicts a more than 2,100% increase in the total market value of cryptocurrencies in less than seven years. The expert also stated that Bitcoin is a good investment for the future.
Bitcoin Investment Opinion!
In a recent interview with Benzinga, Wood claimed that financial institutions will likely start investing heavily in Bitcoin (BTC) and other cryptocurrencies, which will increase the total value of the crypto market. She says that the approval of the Bitcoin exchange-traded fund (ETF) will be one of the catalysts for the influx of institutional investments. After Grayscale’s victory against the U.S. Securities and Exchange Commission (SEC), which will force the regulator to reconsider the digital asset manager’s application to convert its Bitcoin Trust into an ETF, the chance of ETF approval could be higher. The expert stated:
If institutions want to take action, there will be a high demand against the increased Bitcoin supply. The only way to do this is to increase the price.
Record Prediction for BTC!
According to Benzinga, Wood expects institutional investment to increase the current $1.13 trillion crypto market value to $25 trillion by 2030, with Bitcoin accounting for more than half of this total market value. The experienced investor claims that ARK’s “base case scenario” for Bitcoin is a price of approximately $650,000 by 2030, with expectations of a doubling of this amount. The expert said:
The world’s first global, private, digital, rules-based monetary system. It’s a great idea… We believe that the total crypto asset market will be valued at around $25 trillion by 2030.
In conclusion, Cathie Wood, the CEO of ARK Invest, predicts that the cryptocurrency market will grow over 2,100% in the next seven years. She expects a significant increase in the total value of Bitcoin and other cryptocurrencies with the increase in institutional investments and potential ETF approval.
At the time of writing, Bitcoin is trading at $27,158.