Cathie Wood predicted that the Bitcoin price would rise tenth to reach $500,000 in 5 years. A bold prediction came when Ark Investors chief executive anchor Andrew Ross Sorkin was speaking with CNBC at the Salt Fintech conference in New York on Sept. 13
He added that this prediction depends on companies and institutional investors that vary their librarians by 5% to investing in Bitcoin.
“We believe the price will be tenth where it is today, as much as $45,000, above $500,000.”
The executive added that if it could hold only one cryptocurrence, it would be Bitcoin “because nations now value that legal tender”, but Ether sees an explosion in evolutionary activity.
Cathie Wood is also boss on Ethereo, which has gained 360% since the beginning of the year. With respect to the future crypto-exposure company, Arcam said there will likely be a split of 60% Bitcoin and 40% Ethereum.
Wood added that the firm has now become much more confident with Ethereum as the transition to stake testing has begun. Central finance is also interesting, she added, especially its ability to disrupt traditional finance.
“I’m fascinated by what’s going on at DeFi, that the cost of infrastructure for finance services has fallen in the same way that I know the traditional economy doesn’t appreciate right now.”
She’s confident enough that crypto isn’t regulated to death, declaring that no one wants a controller to be blamed for preventing another major fintech breach.
Bitcoin and Ethereum Price Outlook
Today’s trading has shrunk slightly, with Bitcoin trading 4% higher on the day of $47,100 at the time of writing, according to CoinGecko. BTC is now at its highest weekly price and is trading above both the 50-day and 200-day moving average, which formed the golden cross just hours ago.
Ethereum, which has seen hash rates hit an all-time high, increased 3.2% to trading at $3,400 at the time of writing. ETH margins are still down over the past week and are still breaking resistance due to over $3,500 more taxed gains.
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