As more and more companies and institutions are adopting the cryptocurrency, it is promised that Bitcoin’s value will continue to rise is believed by Ark Investment CEO.
Cathie Wood, the CEO of Ark Investment, in the next five years the price of Bitcoin will grow by tenfold has doubled down on her prediction, and said the growth of DeFi, NFTs, and the Eth2 upgrade has massively increased Ark’s confidence in Ether’s future.
By 2026 the prediction of the Wood would value Bitcoin at almost $500,000. She said that Ark Investment’s future exposure to crypto was likely to be around 60% Bitcoin and 40% Ethereum.
In New York, during a live stream at the SALT Conference Wood made the comments on Monday.
BTC price’s thesis of woods is about the companies adding Bitcoin into their balance sheets and institutional investors who are allotting approx. 5% towards Bitcoin or other cryptos in their portfolios.
According to her view, Bitcoin [BTC] is still under the default currency of the crypto space with El Salvador deeming it legal tender and other countries of Central America signaling they may follow soon.
Ethereum [ETH] is becoming more and more attractive as an investment thanks to the explosion in developer activity related to NFTs and DeFi, said her.
She further added that she is more fascinated with what’s going on in DeFi, which is collapsing the cost of the infrastructure for financial services.