15.09.202111:30 Forex Analysis & Reviews: Bitcoin is expected to grow $ 500,000 in the next five years

CEO of Ark Invest, Cathie Wood, believes that the price of Bitcoin will exceed $ 500,000 in the next five years, which is ten times the current price of the leading cryptocurrency.

Wood is also optimistic about the second-largest cryptocurrency Ethereum with a market capitalization equal to Bitcoins. n the cryptocurrency portfolio, she prefers bitcoins and ethereum with a distribution in the percentage ratio of 60/40.

Cathie Wood shared this vision at the SALT conference, which is an event hosted by Anthony Scaramucci, a Wall Street financier. Her ambitious forecast is due to the fact that the bitcoin price struggled to revise the level of $ 50,000 earlier this month.

She bases her forecast on companies that diversify their cash, mentioning the CEO of MicroStrategy, Michael Saylor, who sent treasury assets for the first time to the leading cryptocurrency last year. Elon Musk and Jack should also be considered.

Wood also expects institutional investors to invest 5% of their assets in Bitcoin or other cryptocurrencies and announced at the conference that the price would be ten times higher.

So far, Ethereum's price has surged more than 300% this year.