893: ARK INVEST'S CATHIE WOOD PREDICTS $700K BITCOIN, SAYS BTC PART OF A WAVE OF DISRUPTIVE INNOVATION!!
Bitcoin News Alerts | Daily BTC Macro Signal · Justin Verrengia
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Show Notes
ARK Invest founder Cathie Wood says she views Bitcoin as a "disruptive innovation" in line with corporate giants like Amazon, Apple and Tesla and explains how she gets a BTC price prediction of $700,000 per coin.
"We think emerging markets are a huge use case here," Wood said. "That use case alone will account for $100,000 to $200,000" of an increase in the price of Bitcoin.
Now let's do the math.
The current Bitcoin price of about $60,000 is the base. Wood sees institutional investors adding $500,000 to that and emerging market adoption adding $100,000 to $200,000 more.
So Wood's five-year Bitcoin price target is actually a range between $660,000 and $760,000, with $700,000 falling just below the middle of the range.
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