© Reuters
Investing.com – Cathie Wood, founder and CEO of ARK Investment Management, reiterated in an interview on Thursday that the could be worth a million dollars one day.
In a recent interview with the Brazilian financial information portal Infomoney, she estimated that Bitcoin will compete with .
“Gold is a trillion-dollar asset, and we think bitcoin will get a good chunk of that,” she said, explaining how BTC could reach $1 million per coin.
Ms. Wood also discussed the fundamental role that bitcoin could play as a decentralized and private alternative to traditional currencies, and as a hedge against the instability of monetary and fiscal policies for individuals and institutions in certain countries around the world. .
“Most emerging markets are going to use something like bitcoin as an insurance policy,” she explained.
Wood went so far as to speak of “a new era in finance”, with the first global monetary system, digital and decentralized.
“The value of scarcity, as institutions become more interested in it, is going to drive up the price – quite dramatically, in our view,” she said, adding that the path to the 1 million goal dollars just requires a little more confidence.
“Right now we’re somewhere between $40,000 and $43,000. It won’t take much [pour que] institutions place 2 to 5% of [bitcoin] in their asset allocation, we will achieve this easily”, she estimated, thus implying that these are institutional investments, facilitated by the recent approval of Bitcoin ETFs (and encouraged by the decorrelation of BTC compared to to other markets), which will push the price upwards.
“Institutions know that if there is a new asset class, the correlation of returns with other asset classes is going to decrease, which generally means that the return per unit of risk when you integrate bitcoin into your portfolios will increase – and institutional investors know they can’t miss these kinds of opportunities,” she said.
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