HomeBusiness1 Top Cryptocurrency to Buy Before It Rises 1,500%, According to Cathie...

1 Top Cryptocurrency to Buy Before It Rises 1,500%, According to Cathie Wood

It’s no secret that growth investment maestro Cathie Wood expects big things from it Bitcoin (CRYPTO: BTC). The Ark Invest fund manager started talking about crypto before she was a household name, and recently doubled down on her bullish projections again.

In a Bloomberg TV interview last Thursday, Wood reiterated a Bitcoin price target of $1.0 to $1.5 million by the year 2030. But that’s not the whole story. The nice thing about Cathie Wood’s Bitcoin coverage is that she continues to explain her investment thesis in increasing detail over time.

Last week’s interview was no exception. So let’s take a look at Cathie Wood’s latest insights into Bitcoin-friendly economic theory.

First, Wood noted that the odds of reaching her existing Bitcoin price targets by 2024 have increased. Institutional investors are finally taking digital assets seriously, aided by new instruments like the spot Bitcoin exchange-traded funds (ETFs) that launched in January. Their Bitcoin investments should make a big difference to the asset’s price and stability in the coming years.

“[Large investors] should consider an allocation these days because there is a hard limit on Bitcoin production in the long term.

94.3% of all Bitcoin that will ever exist has already been produced and is sitting in crypto wallets around the world. You can’t grab a big slice of the total Bitcoin pie by creating or finding more of it, as you would with physical assets like gold or oil. The iron law of supply and demand should inevitably drive the price of this limited asset up, so financial institutions should start building their Bitcoin portfolios before it becomes expensive.

See also  The Top MBA Admission Consultants Of 2025

In this context, $100,000 per coin does not qualify as “expensive.” Remember that the long-term target price is measured in millions of dollars. Cathie Wood is playing the long game here.

Wood also explained that Bitcoin is more than a speculative asset. Rather than the next value-free “tulip bulb craze,” Bitcoin serves an important purpose for people who don’t just expect it to gain value over time.

“It is a global monetary system that is rules-based,” she said. “It’s private, it’s digital, it’s decentralized and it’s backed by the biggest [computer system] in the world. It is the most secure network in the world.”

Bitcoin is similar to a global and highly detailed accounting system that keeps track of all the gold in the world, assigns an owner to each piece of gold nugget and protects the data with several layers of cryptography. You cannot cancel or change any transactions or ownership data without essentially breaking Bitcoin’s transaction recording platform. The item being tracked in this case is not a physical piece of precious metal, but the computer work required to generate a unique digital token.

- Advertisement -
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments