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.
Bitcoin has revolutionized the way we think about money and how we invest it. Kevin O’ Leary himself thinks Bitcoin will beat the S&P500, which earns on average 7-10% annually by an additional 4%.
I frequently get asked what I think about Bitcoin. In all honesty this could be a great place to park some of your money for the remaining of the decade. And I’ll explain why later but first lets go over how to invest in Bitcoin.
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Is Bitcoin the future?
Let’s face it, anything digital is the future.
The way I look at Bitcoin is that it is gold in digital form.
Because there’s a limited amount of it and there’s a huge demand for it.
I don’t necessarily view Bitcoin as a means of currency to be used for transacting in the markets.
Bitcoin to me is a means of multiplying your money like any other investment.
The difference with Bitcoin however is that nothing has quite grown like it.
This is what makes this investment, or trade so attractive.
Will Bitcoin go back up?
BTC is showing major signs of a recovery.
Investors should not worry about the selloffs that recently took place.
Hedge funds and other institutions shorting companies at the moment are in hot waters and are in desperate need of capital.
View this market dip as an opportunity to buy at a discount.
The crypto market is undergoing a correction and will reach new levels growth with each passing day.
BTC is recovering quite well.
All the markets are volatile at the moment, long-term investing takes time.
Where can I buy Bitcoin?
Alright community, this is why you’re here.
Before you begin your very first investment in BTC you’ll need to open a brokerage account with a cryptocurrency investment platform.