Cathie Wood's Ark Invest Says Bitcoin Could Exceed $1 Million By 2030.
02 Feb 2023, 08:00
Cathie Wood’s Ark Invest Says Bitcoin Could Exceed $1 Million By 2030
Ark Invest, the American asset management firm launched by Cathie Wood, presented its take on the future of finance and blockchain technology in its Big Ideas 2023 report. Aside from crypto, the report discussed various exciting technologies, including Molecular Diagnostics, Artificial Intelligence, and the technological convergence of Public Blockchains with other fields that could put the platforms on the road to a $200 trillion valuation by the end of the decade.
Bitcoin Is Likely To Scale Into A Multi-Trillion Dollar MarketCathie Wood has been vocal in her support for Bitcoin. The recent downturn in the crypto market failed to deter her confidence in the flagship cryptocurrency. The report by her firm stated that the crypto winter elevated Bitcoin’s value propositions as a decentralized alternative, by shedding a light on the role of centralized counterparties in the crypto contagion.
We believe Bitcoin’s long-term opportunity is strengthening. Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.”