Ark Investment’s Cathie Wood says Bitcoin ($BTC) will hit $1 million by the year 2030.
Cryptocurrency had a rocky 2022 but Cathie Wood say it was primarily due to centralized institutions.
“Last year was a terrible year for everything crypto, but if you think about what happened, it was the centralized opaque players who went bankrupt. FTX, Celsius, 3-Hours Capital, and what did we see from Bitcoin? Bitcoin is completely decentralized and transparent. It started because of 08′-09′, the lack of transparency in the traditional financial services ecosystem.
“This is a rules based digital monetary system and its global. And there’s no human intervention. It’s very disciplined, it’s mathematically metered to top out at 21 million units.”
“We’re seeing riots and protests all over the place. Where do these people go for an insurance policy against an implosion in their purchasing power and wealth. It is in something like Bitcoin. Bitcoin is an insurance policy,” said Cathie Wood.
Welcome to Franknez.com – if you’re part of my Patreon group you know how much I love Bitcoin. BTC and AMC are my biggest plays right now.
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If you thought it was too late to get into Bitcoin, you’re not alone. I was in the same boat before I put my first $100 in the cryptocurrency. Now, $100 is not much to invest in but I was testing the crypto market to see whether it be something I could invest in long term.
So, I decided to purchase my first fractions of Bitcoin using the exchange known as Kraken. I bought in when BTC was around $60K per coin and then it plummeted to about $29K. Good thing I only put $100.
But here’s what happened next. I did a little more research and stumbled across the information that Bitcoin’s demand can easily send it to 6-figures per coin. I was sold and have put 4-figures in this vehicle around $32K. BTC has now risen close to $50K. Once BTC reaches $64K, I would have doubled my money.