More

    Cathie Wood Reiterates $500K Bitcoin Call, Reveals Ethereum Rebalancing

    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

    Related articles

    Comments

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Share article

    Latest articles

    Newsletter

    Subscribe to stay updated.

    bitcoin
    Bitcoin (BTC) $ 47,067.00
    ethereum
    Ethereum (ETH) $ 3,379.58
    cardano
    Cardano (ADA) $ 2.33
    tether
    Tether (USDT) $ 0.998148
    binance-coin
    Binance Coin (BNB) $ 408.15
    xrp
    XRP (XRP) $ 1.06
    solana
    Solana (SOL) $ 140.36
    polkadot
    Polkadot (DOT) $ 33.50
    dogecoin
    Dogecoin (DOGE) $ 0.240054
    usd-coin
    USD Coin (USDC) $ 1.00
    avalanche-2
    Avalanche (AVAX) $ 64.51
    terra-luna
    Terra (LUNA) $ 34.69
    binance-usd
    Binance USD (BUSD) $ 1.00
    chainlink
    Chainlink (LINK) $ 27.99
    uniswap
    Uniswap (UNI) $ 24.36
    litecoin
    Litecoin (LTC) $ 179.17
    bitcoin-cash
    Bitcoin Cash (BCH) $ 621.45
    algorand
    Algorand (ALGO) $ 1.94
    wrapped-bitcoin
    Wrapped Bitcoin (WBTC) $ 47,045.00
    cosmos
    Cosmos (ATOM) $ 33.41
    internet-computer
    Internet Computer (ICP) $ 55.50
    filecoin
    Filecoin (FIL) $ 84.36
    matic-network
    Polygon (MATIC) $ 1.33
    stellar
    Stellar (XLM) $ 0.319013
    tron
    TRON (TRX) $ 0.104668
    ftx-token
    FTX Token (FTT) $ 62.10
    vechain
    VeChain (VET) $ 0.112204
    ethereum-classic
    Ethereum Classic (ETC) $ 56.29
    dai
    Dai (DAI) $ 1.00
    theta-token
    Theta Network (THETA) $ 6.26
    compound-ether
    cETH (CETH) $ 67.87
    tezos
    Tezos (XTZ) $ 6.16
    eos
    EOS (EOS) $ 5.31
    okb
    OKB (OKB) $ 18.48
    pancakeswap-token
    PancakeSwap (CAKE) $ 21.47
    crypto-com-chain
    Crypto.com Coin (CRO) $ 0.188772
    elrond-erd-2
    Elrond (EGLD) $ 240.78
    aave
    Aave (AAVE) $ 359.54
    monero
    Monero (XMR) $ 258.97
    quant-network
    Quant (QNT) $ 348.20
    cdai
    cDAI (CDAI) $ 0.021700
    iota
    IOTA (MIOTA) $ 1.64
    bitcoin-cash-abc-2
    Bitcoin Cash ABC (BCHA) $ 237.50
    compound-usd-coin
    cUSDC (CUSDC) $ 0.022265
    ecash
    eCash (XEC) $ 0.000231
    staked-ether
    Lido Staked Ether (STETH) $ 3,353.49
    shiba-inu
    Shiba Inu (SHIB) $ 0.000008
    hedera-hashgraph
    Hedera Hashgraph (HBAR) $ 0.420049
    the-graph
    The Graph (GRT) $ 0.812982
    near
    Near (NEAR) $ 8.21