Cathie Wood Reiterates $500K Bitcoin Call, Reveals Ethereum Rebalancing
September 14 2021 - 09:38AM
NEWSBTC
Ark Invest’s chief executive officer and chief investment office
Cathie Wood, is backing up her bold claim that Bitcoin will reach
$500,000. In the same interview, Wood revealed her firm’s
increasing confidence in Ethereum following the 2.0 update, along
with potential plans to rebalance between the two top
cryptocurrencies. Ark Invest’s Cathie Wood On Rebalancing Bitcoin
And Ethereum Portfolio Ark Invest CEO Cathie Wood is an important
figure in the crypto space, recently even joining Jack Dorsey and
Elon Musk in the B-Word debate. As the chief investment officer of
her firm, any calls she makes are especially notable. Related
Reading | Ethereum “Accumulation” Nears Liftoff Phase: Could
A Flippening Occur? In the past, she’s speculated that
Bitcoin would reach $500,000. And at the recent SALT Conference,
Wood reiterated the call to CNBC anchor Andrew Ross Sorkin.
The prediction depends on institutions allocating just 5% of their
total portfolios to Bitcoin. Should that occur, Wood believes “that
the price will be tenfold of where it is today,” she said. “So
instead of $45,000, over $500,000.” What $500K BTC looks like |
Source: BLX on TradingView.com Wood said if she could choose only
one cryptocurrency, it would default to Bitcoin, but then praised
Ethereum for its recent growth. Related Reading | Return of Darth
Maul: BTC Pumps And Dumps In 5% Shakeout “Our confidence in ether
has gone up dramatically as we’ve seen the beginning of this
transition from proof of work to proof of stake,” Wood said.
However, the Ark CEO said that the firm would “probably do 60%
bitcoin, 40% ether” in the future, keeping the portfolio’s focus on
BTC. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC
Telegram. Content is educational and should not
be considered investment advice. Featured image from
iStockPhoto, Charts from TradingView.com
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