Cathie Wood, Still a Bitcoin Believer, Sees It Going to $500,000
- Date: 19-May-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Cathie Wood, Still a Bitcoin Believer, Sees It Going to $500,000
(Bloomberg) -- Cathie Wood is keeping the faith, even in the face of Bitcoin’s massive plunge that had wiped $500 billion from the coin’s peak market value at one point.
The head of Ark Investment Management said in an interview on Bloomberg TV that she still expects the cryptocurrency to reach a price of $500,000. She noted that as highly volatile sectors in the stock market are selling off amid inflation fears, Bitcoin is dropping as well. It last traded just below $38,000.
“We go through soul searching times like this and scrape the models, and yes our conviction is just as high,” she said.
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