Cathie Wood, CEO of Ark Investment, doubled his prediction that Bitcoin prices will increase tenfold in the next five years, and said that the growth of DeFi, NFT and Eth2 upgrades has greatly increased Ark’s confidence in the future of Ether.
Wood’s prediction is that by 2026, the valuation of Bitcoin will be close to $500,000. She said that Ark Investment’s future exposure to cryptocurrencies may be about 60% Bitcoin and 40% Ethereum.
Wood commented on the live broadcast on Monday Salt New York meeting.
Her BTC price argument is based on an increasing number of companies adding Bitcoin to their balance sheets and institutional investors allocating about 5% of their portfolio to Bitcoin or other cryptocurrencies.
In her opinion, Bitcoin is still the default currency in the crypto space Savior Think it is legal tender and Other Central American countries said they might follow up soon.
But she said that due to the surge in developer activity related to NFT and DeFi, Ethereum is becoming more and more attractive as an investment.
“I am fascinated by what is happening with DeFi, which is reducing the cost of financial services infrastructure in a way that I know the traditional financial industry does not appreciate now,” she said.
“As we see the beginning of the transition from Proof of Work to Proof of Stake, our confidence in Ethereum has risen sharply.”
Ark Investment manages multiple active exchange-traded funds, focusing on disruptive innovation.It’s on Coinbase and Grayscale Bitcoin Trust’s shares, Wood often talks about her Passion for Bitcoin.
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Wood said that based on past experience, she believes that no regulatory agency, including the new SEC chairman Gary Gensler (Gary Gensler), does not want to be blamed for preventing the next major technological breakthrough.
“I’m glad he understands the advantages of cryptocurrency, especially Bitcoin-even though he is a regulator, he is still a hardcore regulator.”
Wood thinks SEC threatens to take legal action against Coinbase Regarding the launch of stablecoin revenue products, it highlights that the pace of development of the crypto ecosystem has exceeded the speed that regulators can keep up.
In her opinion, Coinbase shouldn’t be particularly worried. Wood highlighted how in October 2019 Canada’s largest Bitcoin and digital asset fund manager receives favorable ruling The Ontario Securities Commission (OSC) provides publicly traded Bitcoin funds.