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August 9, 2022
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Ark Invest CEO Cathie Wood believes Bitcoin to rise because of its fundamentals

Ark Invest CEO Cathie Wood believes that Bitcoin may still become more expensive. The reason will be its limited supply and growing demand.

Ark Invest’s CEO is of the opinion that BTC will continue to become more expensive

In New video on YouTube, Wood noted that Bitcoin’s current market cap of around $ 1 trillion is small relative to the potential valuation of the cryptocurrency.

If we add all of the potential demand to the limited supply, we get incredible numbers in the long run. It just started. One trillion dollars is nothing compared to where we will end up – she said.

Ark Invest’s CEO points out that various well-established companies are adding Bitcoin to their balance sheets. This is evidence of growing demand.

“ I think the most surprising development in recent times – something we didn’t expect when we wrote our report – is that companies are now diversifying their cash with Bitcoin. We’ve seen Square do it, Tesla do it… MicroStrategy now defines its business around this – she added.

Wood claims Bitcoin is “the first new asset class “ for about half a thousand years and that its low correlation with other assets makes it attractive to investors.

– In fact, according to our analysis, the highest correlation is with real estate – 0.34. So this is what any asset allocator is looking for. You know, uncorrelated assets. We believe this is the first new asset class, a truly new asset class since 1600 She explained.

Advice for institutions

She added that her company has calculated what percentage of the investment portfolio large companies should invest in BTC.

– We conducted a survey on our ARK-invest website on the market share of institutions. (…) If institutions use this type of analysis, (…) they should probably put 2.5 to 6.5 percent in their portfolios. funds in Bitcoins – she said.

Current Bitcoin rate and other cryptocurrencies, you can always check the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK

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