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Cathie Wood: Expects Bitcoin Price to Exceed $1 Million Within 5 Years
BlockBeats News, August 13th, Ark Invest CEO Cathie Wood said in an interview with CoinDesk: "ARK's bullish prediction for Bitcoin is still well above $1 million within five years. I think the bigger driver now is it becoming the on-ramp for institutions into digital assets and as a substitute for gold as a store of value, and our view on this has not changed at all."
ARK had predicted that Ethereum would become an institutional protocol, and this prediction is now being realized: Coinbase and Robinhood's L2 solutions are both based on Ethereum; the growth of stablecoins is mainly focused on the Ethereum network; unlike Bitcoin, Ethereum's treasury companies provide utility and staking functions; despite Ethereum's higher transaction costs and slower speed, it offers a higher degree of decentralization and security. The ARK ETF will have a significant position in ETH and has already invested in Tom Lee's ETH treasury company BMNR for utility and staking functions."
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