Cathie Wood, the CEO of Ark Invest, who is famous for making risky investment decisions with high success rates, is bullish on Bitcoin. She was recently speaking to journalists at CNBC when she revealed the reason for her strong maximalist stance for the top coin.
Speaking on the matter, she claimed that Bitcoin is in the perfect position to score a $500K price point. She claimed that the increasing institutional interest in Bitcoin is a sign that the top coin will be able to show a strong comeback. She further claimed that the current market conditions are highly potent for more institutional interest in the top coin.
Commenting on the Bitcoin price prediction, Cathie Woods claims that several institutional investors have started their crypto debut with coins like Bitcoin and Ethereum. She further explained that if institutional investors managed to allocate only 5% of their portfolio in Bitcoin, the top coin could rally up to 1000%.
She also said that the present year has been big for the commercialization of cryptocurrency markets. Woods tolls the media that most big players have chosen Bitcoin and Ethereum as their first choices as their first step into the crypto industry. She claimed that the retail interest is always dwarfed by the institutional participation for any asset class, and for Bitcoin, it is only the beginning.
Speaking to the journalists at CNBC, ARK Invest CEO Cathie Woods recently claimed that Bitcoin has managed to capture the attention of the institutional investors in the region due to its inherent qualities. She highlighted that the number of correlations in Bitcoin is shared very rarely with other asset classes.
Woods claimed that such an excluded correlation is found in investment options like real estate only. She explained that the lack of correlations with other assets makes for a great diversification option. As per the CEO, this is the main driving force that has kept making institutional investors take a greater interest in Bitcoin as a good portfolio diversifier.