Virtual money and digital crypto currency concept.
Ark Invest’s chief executive officer and chief investment office Cathie Wood, is backing up her bold claim that Bitcoin will reach $500,000. In the very same interview, Wood exposed her company’s increasing self-confidence in Ethereum following the 2.0 upgrade, in addition to prospective strategies to rebalance in between the 2 leading cryptocurrencies.
Ark Invest’s Cathie Wood On Rebalancing Bitcoin And Ethereum Portfolio
Ark Invest CEO Cathie Wood is an important figure in the crypto space, recently even joining Jack Dorsey and Elon Musk in the B-Word debate. As the primary financial investment officer of her company, any calls she makes are specifically significant.
In the past, she’s speculated that Bitcoin would reach $500,000. And at the current SALT Conference, Wood repeated the call to CNBC anchor Andrew Ross Sorkin.
The prediction depends on institutions allocating just 5% of their total portfolios to Bitcoin. Should that take place, Wood thinks “that the price will be tenfold of where it is today,” she stated. “So instead of $45,000, over $500,000.”
Wood said if she could choose only one cryptocurrency, it would default to Bitcoin, but then praised Ethereum for its recent growth.
“Our confidence in ether has gone up dramatically as we’ve seen the beginning of this transition from proof of work to proof of stake,” Wood stated. However, the Ark CEO said that the firm would “probably do 60% bitcoin, 40% ether” in the future, keeping the portfolio’s focus on BTC.
