Cryptocurrencies
Cathie Wood, Still a Bitcoin Believer, Sees It Going to $500,000
- Head of Ark remains bullish on Bitcoin despite latest plunge
- Prospects for Bitcoin ETF approval have now increased: Wood
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Cathie Wood is keeping the faith, even in the face of Bitcoin’s massive plunge that had wiped $500 billion from the coin’s peak market value at one point.
The head of Ark Investment Management said in an interview on Bloomberg TV that she still expects the cryptocurrency to reach a price of $500,000. She noted that as highly volatile sectors in the stock market are selling off amid inflation fears, Bitcoin is dropping as well. It last traded just below $38,000.