Forget Cathie Wood’s $500K Bitcoin call — the new price target is $560K

Forget Cathie Wood’s $500K Bitcoin call — the new price target is $560K

After a glorious rally in October, Bitcoin has pulled back below $60,000. Still, Ark Invest’s Cathie Wood remains optimistic about the world’s largest cryptocurrency.

In fact, she’s even more bullish than before.

Last week, Wood told Barron’s that if “institutional investors move into Bitcoin and allocate 5% of their portfolios,” the price of the cryptocurrency would soar to about $560,000 by 2026.