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Cathie Wood, CEO of asset manager and exchange-traded cryptocurrency issuer ARK Invest, has long maintained a bullish outlook on Bitcoin, and her latest comments reinforce her bullish outlook for the largest cryptocurrency.
Following Donald Trump’s electoral victory over Vice President Kamala Harris last week and Bitcoin’s recent rise to an all-time high of $93,250, investor sentiment surrounding Bitcoin has improved significantly.
Regulatory relief expected
Recently interview On CNBC’s Squawk Box, Wood discussed her predictions for Bitcoin’s price path. She stated that ARK Invest’s goals for 2030 range between $650,000, and in the bullish scenario, between $1 million and $1.5 million.
Ark’s CEO attributed the current bullish trend in Bitcoin’s value to several catalysts, particularly the expected regulatory relief that could come from the new Trump administration.
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The 47th President of the United States has pledged to do so Big changesparticularly in the leadership of the US Securities and Exchange Commission (SEC), headed by Gary Gensler and characterized by lawsuits, Wells Notices and increased scrutiny of major players in the industry.
This has led to notable dissatisfaction over the past three years of his tenure at the regulatory agency, prompting executives and investors to… Digital assets Ecosystem to call for change A clearer regulatory framework can invite greater adoption and growth in the market.
However, Trump promised to fire Gary Gensler On the first day of his new administration, which is expected to begin on January 20. He also pledged to make America the “crypto capital of the world” through a new framework and support for digital assets, with bitcoin at the heart of his economic plan. Agenda.
This has resonated well with industry advocates, as evidenced by the broader market rally led by the market’s largest digital assets, which are up nearly 25% since Trump’s election win.
Bitcoin as a unique asset class
During the interview, Wood also highlighted that ARK Invest was the first public asset manager to invest in Bitcoin when its price was just $250 in 2015. The asset manager believes that even at a price of around $90,000, Bitcoin still has a lot of value. Growth potential.
According to Wood, Trump’s win is pivotal, because it signals a shift toward a more favorable regulatory environment for the cryptocurrency sector — an outcome she considers crucial to Bitcoin’s future.
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Furthermore, Wood emphasized that Bitcoin has evolved into a distinct asset class, separate from traditional currencies. She believes that this transformation indicates that Institutional investors Asset allocators are increasingly looking to include Bitcoin in their portfolios, recognizing its potential as a store of value and a hedge against inflation.
At the time of writing, Bitcoin is hovering around the $90,120 level, still up 16% on the weekly time frame, despite the current correction seen over the past 48 hours.
Featured image of DALL-E, chart from TradingView.com
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