• Cathie Wood, CEO of ARK Investment Management, has revealed that her team had not expected businesses and governments to adopt Bitcoin as quickly as they have.
• She predicts that the value of Bitcoin will surge exponentially in the near future, with a single coin estimated to cost around $670,000 within five years and possibly reaching up to $1.48 million by 2030.
• Despite the major losses experienced by the cryptocurrency sector in the past year, ARK Investment Management has kept buying crypto and shares of cryptos related companies.
Cathie Wood’s Prediction on Bitcoin
Cathie Wood, CEO of ARK Investment Management, recently revealed that her team had not expected businesses and governments to adopt Bitcoin as quickly as they have. She believes that Bitcoin is an „insurance policy for everyone“ and maintains her belief that its value will grow exponentially in the near future. She projected that BTC would reach approximately $670,000 within 5 years, with a maximum potential of reaching up to $1.48 million by 2030 – a 6,326% appreciation from its current value.
ARK Investment Management Stands Firm On Their Bitcoin Strategy
Despite the major losses experienced by the cryptocurrency sector in the past year, ARK Investment Management (led by Cathie Wood) has kept buying crypto and shares of cryptos related companies. This strategy has been adopted because Ark Invest firmly believes that digital assets such as bitcoin are becoming increasingly popular among wealthy individuals who wish to protect their wealth from inflationary effects caused by traditional financial systems.
Can BTC Reach $30,000 This Month?
With more trading volume coming into play and more investors entering the market every day it is hard to predict where Bitcoin’s price will go next this month alone. However given Cathie Woods projection regarding Bitcoins long-term growth it could be possible for BTC to reach an all-time high this month if enough investment comes into play before it starts declining again later in 2021 or 2022.
Conclusion
Bitcoin is becoming an increasingly popular asset among investors looking for protection against inflationary effects caused by traditional financial systems and its long-term growth potential looks very promising according to predictions made by Cathie Wood at Ark Investing Management who believes it could reach up to $1.48 million within seven years from now – making it a great option for those wanting a long term return on their investments despite any short term volatility seen along the way. Whether or not BTC reaches $30k this month or even an all time high remains uncertain but given enough investment anything is possible!
Takeaway
Investors should keep an eye on any new developments surrounding Bitcoin over the coming weeks as more trading volume comes into play which could influence whether or not prices reach new highs this month alone – however regardless of short term performance its long term growth potential still looks very attractive!