U.Today – In a recent CNBC interview, Cathie Wood, CEO of ARK Invest, has made yet another bold prediction about the future of cryptocurrencies. Wood stated that she the cryptocurrency asset ecosystem to scale up to a staggering $25 trillion by 2030.
This forecast comes as ARK Invest prepares to launch focused on various aspects of the crypto market in partnership with 21 Shares.
Wood says that she is “very impressed” by some of the questions asked by the SEC. She also says that she does not understand Chair Gary Gensler’s alleged animosity toward Bitcoin since he is definitely very knowledgeable about the asset.
h2 This is a bull market/h2
Wood acknowledged the role of anticipation on the market, suggesting that some of the price increase could be attributed to speculation on the ETF’s approval. “I am sure there’s some anticipation, and there could be a sell on the news,” she said. However, Wood emphasized the importance of underlying fundamentals in assessing Bitcoin’s value. She pointed to ARK Invest’s monthly Bitcoin reports, which indicate a bullish market trend. “It seems like this is a bull market,” she said.
The current market cap of the crypto market stands at $1.45 trillion, according to CoinGecko .
Wood highlighted Bitcoin’s resilience and potential, particularly in times of economic uncertainty. “Bitcoin went from $19,000 to nearly $30,000 as the [regional bank stock] was imploding…there’s no counterparty risk in Bitcoin,” she said.
h2 $1.5 million per Bitcoin?/h2
As , Wood previously predicted that Bitcoin’s price could reach an eye-popping $1.5 million per coin, with her confidence bolstered by the regional bank crisis in March, viewing the flagship cryptocurrency as a hedge against counterparty risk.
The controversial stock-picker first invested in around eight years ago through her firm Ark Invest. This made Ark Invest the first U.S. ETF manager to do so. At that time, the price of Bitcoin was approximately $200 to $300 per coin.
Now, Ark Invest appears to be blockchain-agnostic. In her most recent CNBC interview, Wood also singled out Ether and for their roles in decentralized networks and infrastructure.
This article was originally published on U.Today
Get The App
Join the millions of people who stay on top of global financial markets with Investing.com.