Ark Invest CEO on Bitcoin: “1 Trillion is Nothing” Compared to Future Growth

glassnode studio bitcoin liquid and illiquid supply

Back in 2018, Ark Invest CEO Cathie Wood infamously predicted that Tesla shares would reach $4,000 in a matter of a few years. Investors and critics ostracized her high-conviction bet, as at the time, Tesla was facing a major liquidity crunch and on the brink of bankruptcy. It seemed like an impossible task for the automaker to appreciate by 1,200% when it could barely stay solvent. But as luck would have it, Wood’s bet on Tesla came true earlier this year, as Tesla shares rose to $800, or the predicted $4,000 pre-stock split. Cathie Wood remains Ultra-Bullish on Bitcoin Now, the star-studded asset manager is betting on Bitcoin to continue soaring. Cathie Wood has been a long-time advocate for the digital asset, with her ARKW fund holding approximately $370 million in GrayScale Bitcoin Trust (GBTC). As Bitcoin prices surged this year, its market capitalization reached $1 trillion in value. While…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE