Cathie Wood Says ‘Uncertainty and Volatility’ Solidifies Belief That Bitcoin Will Reach $1 Million

Cathy Wood, CEO of ARK Invest, has been one of the most vocal proponents of bitcoin over the past few years. The CEO has made several predictions for the digital asset, which she expects to reach $1 million. And even though the cryptocurrency is currently trading at just over $26,000 now, Wood remains convinced that bitcoin is headed to $1 million.

Kathy Wood doesn’t freak out about uncertainty and volatility

Volatility and uncertainty have long characterized financial markets as prices tend to fluctuate, and regulation around the space remains sketchy at best. However, the CEO of ARK Invest still believes that digital assets will rise to new incredible heights as the years go by.

speaking through interview With Bloomberg, Wood explains why she remains a firm believer in Bitcoin’s bullish future. Rather than being put off by uncertainty and market volatility, she says the trend has only succeeded in making her more steadfast in her stance that Bitcoin will reach $1 million. This mirrors Wood’s remarks from 2022 when she Developed An eight-year time frame for digital assets to rise to the $1 million level.

Previously, Wood had pointed to the fact that more institutional investors would move into digital assets, which would push them up to $500,000 within five years. Additionally, the fact that BTC offers investors privacy from the government was also a major reason given by the CEO for this prediction.

BTC trading sideways at $26,395 | Source: BTCUSD on TradingView.com

Bitcoin moves with the flow

Bitcoin has always outperformed its previous high prices in every bull market and with one bull market expected in 2024, and another in 2028, Wood’s prediction may well come true by 2030. This is because the adoption of digital assets is growing, and so is its value.

Unlike most cryptocurrencies in the space, Bitcoin also has a limited supply, which ensures that the asset is scarce. As demand rises, it will become more difficult to secure Bitcoin and investors will have to pay more for each BTC.

It is important to keep in mind that if a digital asset were to reach $1 million per coin, its total market capitalization would exceed $20 trillion, which would make BTC more valuable than the entire gold market.

Currently, BTC is trading at $26,438 after recovering from Monday’s crash following the news that the US Securities and Exchange Commission has filed a lawsuit against cryptocurrency exchange Binance.

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