ARK Invest’s Cathie Wood Details Massive 2,000% Bitcoin Rally Prediction After Crypto Market Bounce
ARK Make investments CEO Cathie Wooden is outlining a daring Bitcoin (BTC) prediction.
In a brand new CNBC interview, ARK Make investments CEO Cathie Wooden says that she firmly believes the highest crypto asset will soar by greater than 2,000% inside seven years.
“The truth is, we’re just a little greater than [$500,000] in our base case for the yr 2030. And in our bull case, a lot greater.”
Wooden says the scandals and bankruptcies that hit the crypto area in 2022, just like the implosion of Sam Bankman-Fried’s FTX, really underscore the worth of the decentralization and transparency within the Bitcoin and Ethereum (ETH) ecosystems.
“If you happen to have a look at what has occurred within the final yr, really, Sam Bankman-Fried didn’t like Bitcoin in any respect. And he didn’t prefer it due to its decentralization and transparency. And what corporations went below? They had been the highly-centralized, non-transparent, opaque corporations.
So, FTX, Celsius, Three Arrows Capital. If you happen to have a look at what occurred to Bitcoin, the community, and Ethereum, the community, they actually didn’t skip a beat. All transactions had been accomplished. All sensible contracts opened and closed.
I feel that beginning with ’08-’09, which is when Bitcoin actually debuted, and much more so, after the crypto fallout this previous yr, the collapse in lots of corporations, this concept of transparency and decentralization is taking maintain and Bitcoin and Ethereum are the 2 finest manifestations of that within the crypto world.”
After a big bounce from November lows, Bitcoin is now price $23,040 at time of writing whereas Ethereum trades at $1,575.
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