Cathie Wood Sticks With $1 Million Bitcoin Forecast Even After Horror Year
- Forecast is roughly a 4,200% jump from current $23,000 level
- Coin rose nearly 40% in January amid traders’ risk-on appetite
Cathie Wood
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Even after a horrific 2022 for Bitcoin, Cathie Wood’s firm is sticking to one of its boldest predictions yet: that the price of the cryptocurrency will exceed $1 million in the next decade.
“Bitcoin’s long-term opportunity is strengthening,” strategists led by Yassine Elmandjra wrote in ARK Investment Management’s annual Big Ideas paper published Monday. “Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.”