ARK Invest CEO and CIO Cathie Wood is bullish about the future of crypto, despite the current price decline.
Related: MicroStrategy additionally bought 1,434 BTC for over $80M
During a recent interview with CNBC on December 9, Wood shared her predictions. She reiterated her view that if more institutional investors choose Bitcoin, the price of the coin will increase significantly. If large investors move into BTC 5% over time, the price of the coin would reach $500.000.
Wood explained why she thinks that will happen. The CEO mentioned that the move has already begun, as institutions are always looking for alternatives to traditional asset classes and crypto fits this purpose. Next, she added that institutions choose the two largest cryptos now, BTC and Ether. Wood also pointed out that currently, there is a lack of exposure.
Powered by blockchain technology, crypto plays a unique role in finance. A study by Ark Invest concluded that the asset that stands most closely to Bitcoin, is real estate. Talking about Ether, Wood said it's even more undervalued than BTC.