Ark Make investments CEO Cathie Wooden stated she expects Bitcoin to soar to $500,000 in 5 years time throughout an interview with CNBC anchor Andrew Ross Sorkin on the SALT Convention in New York Metropolis on Monday.
In the course of the interview, Sorkin notably requested Wooden what Bitcoin could be value in 5 years.
Wooden responded, “If we’re proper and firms proceed to diversify their money into one thing like Bitcoin, and institutional buyers begin allocating 5% of their funds in Bitcoin […] we imagine the worth will likely be ten-fold what it’s as we speak. As a substitute of $45,000, over $500,000.”
Afterward, nonetheless, Wooden was requested outright, for those who might solely personal one cryptocurrency what would it not be? She responded, “That’s changing into a more durable and more durable query to reply.”
“I feel I’d default nonetheless to Bitcoin as a result of international locations at the moment are deeming it authorized tender and we haven’t even put that into our considering.”