Cathie Wood Calls Bitcoin a ‘Financial Super Highway,’ Reiterates $1.5M Price Target

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Ark Make investments CEO Cathie Wooden known as bitcoin (BTC) a “monetary tremendous freeway,” emphasizing the vital use circumstances for the cryptocurrency in rising markets.

Wooden, whose Ark Make investments not too long ago turned one of many issuers of a spot bitcoin exchange-traded fund (ETF), ARKB, mentioned the asset supervisor is concentrated on rising markets and the macro surroundings worldwide, which has been “shocked” by the U.S. Federal Reserve’s enhance in rates of interest, she mentioned throughout a fireplace chat on the Friday Bitcoin Investor Day convention in New York.

“There are indicators that not all is effectively on the earth,” she mentioned about nations like Nigeria, one of many largest adopters of bitcoin due to the sturdy depreciation of the nation’s foreign money. Due to that, Wooden sees bitcoin as a risk-off asset and a risk-on asset.

Ark’s spot bitcoin ETF has grow to be one of many extra profitable bitcoin ETFs among the many ten funds issued in January.

Wooden mentioned that with extra establishments coming into this house, mathematically talking, bitcoin’s worth might simply rise above $3.5 million. Nevertheless, she wouldn’t give a brand new particular worth goal.

“Bitcoin has miles to go,” she mentioned as a substitute and identified to her earlier name of $1.5 million worth goal.

Learn extra: Cathie Wooden Sees Bitcoin Worth Reaching $1.5M by 2030 After ETF Approval

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