ChainCatcher reported that ARK Invest founder Cathie Wood said Bitcoin is preparing for another major move and that she still sees the asset eventually reaching $1.5 million. Wood said she has kept that target unchanged, even when many people thought she had "lost her mind." She said her bullish case rests on three pillars: institutional adoption, Bitcoin’s fixed supply, and its growing role as a true digital store of value. Wood also said a specific catalyst could accelerate that timeline: the U.S. government buying Bitcoin.
Cathie Wood says Bitcoin is preparing for another major move
ChainCatcher reported that ARK Invest founder Cathie Wood said Bitcoin is preparing for another big rally, and that she remains bullish on the asset reaching $1.5 million in the end.
Wood said she has stuck with that target for a long time. Even when most people thought she had "lost her mind," she did not change her view.
Her bullish case rests on three pillars
The ARK Invest founder said her thesis is built on three main pillars: institutional adoption, Bitcoin’s fixed supply, and Bitcoin’s gradual shift into a true digital store of value.
She has also said more than once that one specific catalyst could speed up that timeline significantly: the U.S. government buying Bitcoin.
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