Yerevan (CoinChapter.com) — Cathie Wood’s ARK Invest has made some optimistic predictions concerning Bitcoin and sees the prices going as high as $200m000-500,000. As she stated in an interview recently, if all US corporations were to put as much as 5-10 percent of their cash into Bitcoin, the prices would rocket to $200,000. Considering investments from other big corporations worldwide, the price could be even higher.
As the founder, CEO, and CIO of ARK Invest (a company with total assets of more than $17 billion), she believes that the rise in the Bitcoin price is a direct consequence of funds coming from institutional investors, such as banks, credit unions, insurance companies, etc. But, she showed her excitement with how corporations lately turned their cash to Bitcoin.
Companies like Tesla, MicroStrategy, and Square invested billions of dollars in cryptocurrency recently, supporting her point of view. This, to Wood, is certainly a step forward in making Bitcoin prices rocket yet again. Moreover, companies like PayPal have announced their full support by making it possible for users to exchange the cryptocurrency directly through PayPal.
Wood also mentioned that the broad-based adoption of Bitcoin would take a while. She also noted the situation would have to mature before the prices reach the prediction mentioned above. Nevertheless, she self-admittedly believes things turning positive for Bitcoin in the long run.
“Bitcoin is currently the best hedge against inflation, better than gold,” she stated recently in an interview with Bloomberg Radio.
It’s important to remember that any market has its highs and lows and that no investment is fool-proof. There are certain risks concerning investing in Bitcoin. But the fact that the price more than doubled during the last year, despite the troubled market, gives many individuals and corporate investors high hopes not only for 2021 but the coming years as well.
Today, BTC has a value of $53,000. It is a vast rise, compared to the figures of 2020. In March 2020, the price for a single BTC was fluctuating around $7,000-8,000. And considering the global crisis over the pandemic, Bitcoin surprised the world with an ever-growing price that most likely is not crushing any time soon.