5% of the institutional money can press Bitcoin to $ 500,000
5% of the institutional money can press Bitcoin to $ 500,000
- Cathie Wood, the queen of the bull market from Wall Street, believes that Bitcoin can rise to $ 500,000 in the near future if it only receives 5 percent of institutional capital.
- She continued that she believes that Ethereum is even more undervalued than Bitcoin and higher profits will be made.
One of the most aggressive investors in Wall Street predicts that Bitcoin will shoot ten times ten times, but only if institutional investors increase their allocation into cryptocurrency. Cathie Wood recently said in an interview that she believes that an allocation of 5 percent to BTC from institutional investors could drive cryptocurrency to $ 500,000. She further claimed that Ethereum was much more undervalued than Bitcoin and will probably exceed the King of Cryptocurrency in the near future.
Cathie is the founder, CEO and CIO of ARK Invest, one of the most risk -tolerant investment companies in Wall Street. She has completed large bets on companies that she believes that they will shape the future. Their best known is the bet on Elon Musks Tesla, the value of which has been raised.
In an interview with the Squawk Box from CNBC, the former manager of Alliancebernstein said that despite the recent drop in prices, she believes that Bitcoin will still skyrocket.
I think institutions are moving in and they start with Bitcoin and ether. Crypto of any kind is a minor amount or a percentage of the institutional portfolio. The reason for the influx of institutes is that it is a new investment class, the correlation of which differs greatly from other investment classes.
According to Cathie, real estate is the asset with the closest correlation to cryptocurrencies, she said and quoted a study that her company had carried out.
"Institutional managers have to look at new investment classes that develop and have the low correlations [with the overall market]," she said. "This is the key to diversification and the holy grail in terms of asset allocation."
We believe that switching from institutions to Bitcoin ... could increase the price of Bitcoin by $ 500,000 if they move around 5 % over time.
"We think that the move of institutions in #Bitcoin increase from Bitcoin by $ 500,000 if you would move around 5 % over time, "says @cathiedwood #krypto pic.twitter.com/lx5yqgsk3b
-Squawk-Box (@Squawcnbc) 9. December 2021
This is not the first time that Cathie makes a bold prediction for the price of Bitcoin. A year ago she US dollars, citing the institutional interest in the digital asset. At that time, BTC acted below 20,000 and has increased by more than three times.
and while many other high -ranking managers have made a similar bold predictions, Cathie’s has a success story in making the right decisions. Her crowning glory is Tesla, a company that supported it, even when his stock suffered a big break -in.
Bitcoin currently acts just over $ 48,000 after it has lost almost 3 percent overnight. It still has to recover after it had fallen from $ 56,000 a week ago and most of the time this week was traded under $ 51,000.
Source: Crypto-news-flash.com
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