• BTC
    27365.73 2.15%
    1.08 -0.15%
  • ETH
    1859.58 2.38%
  • SOL
    19.9 2.36%
  • ADA
    0.37 1.09%
  • AVAX
    14.85 1.09%
  • DOT
    5.4 1.77%
  • LTC
    92.43 1.8%
  • BCH
    116.46 1.4%
  • CRO
    0.06 0.65%
    0.88 1.7%
  • LINK
    6.58 0.7%
  • XLM
    0.09 0.58%
  • UNI
    5.14 1.28%
  • SHIB
    0 1.02%

While some think Bitcoin is dead, Cathie Wood sees it at $500,000

Cathie Wood was asked during a CNBC interview whether she stands by her $500,000 Bitcoin prediction. She confirmed it without any hesitation.

$500,000 Bitcoin prediction

Ark Invest, led by Cathie Wood, is known for investing in disruptive technology, including Bitcoin. Despite its downfall in 2022, Wood believes it will eventually reach $500,000 in the future. 

Also read: TOP crypto memes that everyone should know

During an interview on CNBC on Wednesday, Wood confirmed her firm’s commitment to its bold market forecast. She also said that “Bitcoin along with Ethereum are the best manifestations of transparency and decentralization in the crypto world.”

Wood noted that the defunct crypto exchange’s former CEO of FTX, Sam Bankman-Fried (SBF), had a critical stance towards Bitcoin. “SBF really didn’t really like Bitcoin,” she said, pointing to Bitcoin’s decentralization and transparency. 

Wood also pointed out how mainly the highly centralized entities in the crypto space failed, including FTX, Celsius, BlockFi, Three Arrows Capital, and many others. Despite all the craziness in 2022, she explained that “all transactions were completed, and all smart contracts opened and closed.”

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Her opinions are actually the opposite of what we are seeing recently. For example, Peter Schiff claimed Bitcoin is worthless and it’s going to zero, a few weeks before it exploded by 30%. 

Jim Cramer also stated in December that it’s the last chance to withdraw money from crypto before it all goes to zero. At that time, Bitcoin was at $17,000. Now it sits comfortably around $23,000. 

Bottom line

The sentiment is changing with Bitcoin’s price, that’s for sure. The FTX crash may have slowed down the crypto adoption, but the recent pump suggests that crypto is definitely not dead. If it were to continue on its trajectory, it could really hit Wood’s target by 2030. 

I got into financial markets by accident in 2012 and started with Forex trading. Later in 2017, I started investing in stocks in cryptocurrencies and began writing articles profess...


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