Cathie Wood Believes BTC Will Hit $500.000 Over 5 Years

by in Cryptocurrency News

Cathie Wood Ark Invest

The CEO and CIO of New York-based investment management firm ARK Invest, Catherine Wood believes that Bitcoin price will go up to $500.000 in five years. She also announced that the company's confidence in Ethereum rose after the ETH2.0 upgrade.

Related: Over 2.5M addresses have registered on Ethereum since May

Catherine Wood shared her opinion during the SALT Conference on September 13. ARK Invest plans to go 60% in Bitcoin and 40% in Ether. Cathie Wood’s conclusions are based on the possibility that firms will keep including BTC on their balance sheet and institutional investors will start to put 5% of their holdings into the coin.

In the case of this coming true, the price of BTC will grow ten times and surpass $500.000 by 2026, Wood thinks. She says if she had to choose only one crypto to own, her choice would be Bitcoin as countries began to recognize the coins as legal tender.

Talking about Ether and the DeFi space, Wood noted the growing activity due to NFTs and DeFi and said she was fascinated with the progress of the space.