Ark Invest CEO Cathie Wood is doubling down on her bullish outlook for Bitcoin (BTC), confidently predicting that the leading cryptocurrency will surpass $1 million by the end of the decade. In a recent Bloomberg Markets interview, Wood highlighted Bitcoin’s finite supply of 21 million coins as a key factor driving its value upwards. She pointed out that Bitcoin has already exceeded $108,000 in 2024 and is poised for even further growth in the years to come.
Wood emphasized Bitcoin’s unparalleled scarcity, noting that unlike traditional assets like gold, which see increased production with rising prices, Bitcoin’s fixed supply makes it an attractive store of value. The CEO also underscored the growing institutional interest in Bitcoin, particularly through the proliferation of Bitcoin exchange-traded funds (ETFs), which is contributing to its mainstream acceptance and recognition within the global financial system.
In addition to her optimistic Bitcoin forecast, Wood also predicted a surge in mergers and acquisitions (M&A) activity among startups under the incoming administration of President-elect Donald Trump. She suggested that regulatory barriers to M&A may be reduced under the new administration, leading to a more favorable environment for private-sector deals. This regulatory shift could enable venture-backed companies to access new liquidity opportunities and pursue growth or exit strategies more easily.
Furthermore, Wood welcomed the nomination of Paul Atkins, a proponent of digital assets, to replace Gary Gensler as chair of the Securities and Exchange Commission (SEC). She sees this appointment as a positive step towards a more balanced regulatory approach that could catalyze innovation and investment in the crypto industry. Wood highlighted Bitcoin’s $2 trillion market cap compared to gold’s $15 trillion valuation, indicating that there is still significant room for growth as global adoption of cryptocurrencies expands.
Overall, Wood’s optimistic outlook for Bitcoin’s future growth and the potential increase in startup acquisitions under a deregulatory environment reflects her confidence in an ecosystem that fosters innovation and economic expansion. As the crypto market continues to evolve, Wood remains steadfast in her belief that Bitcoin and other digital assets are still in the early stages of their potential growth trajectory.
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