ARK Invest founder Cathie Wood says she views bitcoin as a “disruptive innovation” in line with corporate giants like Amazon, Apple and Tesla and explains how she gets a BTC price prediction of $700,000 per coin.
“We think emerging markets are a huge use case here,” Wood said. “That use case alone will account for $100,000 to $200,000” of an increase in the price of bitcoin.
Now let’s do the math.
The current bitcoin price of about $60,000 is the base. Wood sees institutional investors adding $500,000 to that and emerging market adoption adding $100,000 to $200,000 more.
So Wood’s five-year bitcoin price target is actually a range between $660,000 and $760,000, with $700,000 falling just below the middle of the range.
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Show Notes / News Resources:
✔ bitcoin Technical Analysis: https://bit.ly/3LMJLBA
✔ BTC Transaction Fees Hit Decade Lows: https://bit.ly/3JkUSQG
✔ $4K Ethereum Prediction: https://bit.ly/3r74Xu6
✔ Cathie Wood bitcoin Prediction: https://bit.ly/3DNsKV5
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.