Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000

Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000

Ark Investment Management CEO Cathie Wood said in a Bloomberg TV interview that bitcoin will go to $500,000 despite the largest cryptocurrency plunging to a low of almost $30,000 on Wednesday.

Wood said on Wednesday that bitcoin is “on sale” now and said that even after today’s drop, the cryptocurrency is not necessarily at a bottom. She describes the market as “emotional” and says it is difficult to call the bottom.

Bitcoin fell for a fifth-straight day, putting the largest cryptocurrency on track for its worst month in more than three years.