While many experts have made Bitcoin (BTC) price predictions, Ark Funds CEO Cathie Wood’s stands out as one of the most bullish.
Ark is a St. Petersburg, Florida-based investment management firm that as of last year had $42 billion in assets under management. The firm is known for its early investment in technology and its analysis of digital currencies. In an 2021 interview with Bloomberg TV, Wood said that the price of a single Bitcoin could reach $500,000.
At the time BTC was in a nosedive and trading just below $38,000.
“We go through soul searching times like this and scrape the models, and yes our conviction is just as high,” Wood said.
The BTC bull case, which needless to say has stirred up a lot of debate in the investment community given that some believe Wood’s predictions are too bullish, comes from more institutional interest in buying Bitcoin. Wood has always emphasized the fact that despite its volatility, Bitcoin remains the best performing asset of the past decade bringing in annualized returns of more than 200%.
Woods has also stressed the importance of companies like Tesla (TSLA), Block Inc (SQ) and software giant MicroStrategy Inc. (MSTR) adding Bitcoin to their balance sheets.
What Might Happen If You Invest $100 In BTC Today
Benzinga’s Chris Katje notes that based on a price of $43,760.46 for Bitcoin at the time of print, a $100 trade into FY2030, would yield the following based on the price predictions from Wood’s Ark Funds:
It’s worth noting, and as already mentioned, that crypto prices are volatile and fluctuate very fast, which means that while it can be lucrative, investors/momo traders can also get hit with significant losses. So if you’re thinking about investing in Bitcoin, it’s important to be aware of the risks involved and to do your research before making any decisions.
Bitcoin is trading around $43,850 as of 6:30 a.m. PT, gaining 1.51% over the previous 24 hours. Crypto’s day range: $43,054 – $45,077.