Cathie Wood Bitcoin: Chief executive officer of Ark Invest, Cathie Wood reiterated her firm belief in the bullish scenario for Bitcoin (BTC) price in the years to come. Wood’s funds purchased BTC worth several millions of dollars in the recent past. It is also common knowledge that she is also an invested in Coinbase shares, affirming her belief in the crypto market and the ecosystem. In a latest comment, Wood said Bitcoin and Ethereum, the top two cryptocurrencies, represent the ideas of decentralization and transparency in the best way.
Also Read: US Fed Meet News Live Updates: Bitcoin (BTC) To Reach 25K or 21K?
Wood’s Base Case and Bull Case For Bitcoin
The Ark CEO reiterated her belief in the potential of cryptocurrencies in her latest statement to CNBC on Wednesday. She said despite the market collapse due to FTX, Celsius and 3AC in 2022, Bitcoin and Ethereum networks were working seamlessly. As opposed to the idea of decentralization and transparency in crypto networks, these companies were highly centralized and opaque in the way they operated, she added.
“After the crypto fallout this year, this idea of transparency and decentralization is taking hold. Bitcoin and Ethereum are the best manifestations of that in the crypto world.”
When asked if she still stood by her earlier prediction of BTC reaching $500,000 by 2030, Wood confirmed the same. She said it was in fact above the $500K level for the company’s base range and that the bullish scenario is much higher than that. Ahead of the FOMC meet for February, BTC is showing slight signs of uncertainty with fluctuations. As of writing, BTC price stands at $23,105, up by 0.015% in the last 24 hours, according to CoinGape price tracker. Whereas ETH price stands at $1,586 almost flat compared to 24 hours ago.
Also Read: Bitcoin Price Risks Falling to $21,000, US Fed Rate Hike Isn’t The Reason
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