Ark Invest’s Cathie Wood Stands Firm on Bitcoin’s $1.5M Bull Case

Cathie Wood, CEO and CIO of Ark Invest is standing firm on her bold Bitcoin predictions for 2030, even as the market continues to see ups and downs. Speaking to CNBC on Friday, Wood shared her outlook:  “In our base case, [bitcoin’s value is] around $650,000. In our bull case, it’s between $1 million and $1.5 million.”  

Ark Invest laid out these forecasts in its 2023 *Big Ideas* report, released last February. Unlike earlier versions, the report offers three scenarios: a “base case” where Bitcoin hits $682,800 by 2030, a “bear case” projecting $258,500, and a “bull case” where it climbs to $1.48 million.  

Despite current price levels, Wood still sees bitcoin as a solid investment. “Remember, we were the first public asset manager to gain exposure to Bitcoin in 2015 at $250,” she noted.

Ark Invest CEO Reveals Why The Company Is Getting Regulatory Relief

Ark Invest’s CEO shared insights into why the company is seeing regulatory relief under the current administration. “This is one of the biggest shifts we’re noticing,” she explained. Cathie went on to reveal that the regulatory relief is being extended to various areas of innovation, including healthcare, which is a major step forward.

She also pointed to Bitcoin’s evolving role in the financial world, adding that crypto is no longer just seen as a global monetary system but is now recognized as a distinct asset class.

According to her, this shift is causing institutions and asset managers to reconsider their strategies by realizing that Bitcoin behaves differently from traditional assets, which is why they’re beginning to integrate it into their portfolios.

Wood also highlighted Bitcoin’s historical performance during halving cycles. With inflation slowing and supply tightening after halving events, she remains optimistic about its continued growth.

‘ARK Innovation Fund Shouldn’t be a ‘Huge Slice of any Portfolio’ – Cathie Wood

Cathie Wood is standing by her Ark Invest Innovation exchange-traded fund despite its recent struggles. “We have a volatile fund,” she said during an interview on CNBC’s *Squawk Box* Friday. “It shouldn’t make up a large part of anyone’s portfolio. We’re more of a satellite strategy now, but we believe this is where the world is headed.”

The fund, which gained fame during the pandemic, has seen its value drop significantly. At its peak, driven by market enthusiasm and the meme stock frenzy, shares soared to nearly $160 and more than doubled in 2020 with a staggering 149% gain.

Since then, ARK Innovation has faced tough times, raising doubts about Wood’s investment approach. While the fund is up 2.8% this year, it trails far behind the S&P 500’s 24% increase. Over the past three years, it has posted an average annual loss of about 23%, according to FactSet. 

Woods Points Out Highest ARKK Shares Holders

Cathie Wood pointed to some unusual trends during the pandemic that pushed Ark Invest shares higher. However, she emphasized that the technology and research behind her investments have advanced significantly.  

She highlighted the life sciences and healthcare sectors, particularly multiomics, as the fund’s biggest challenge so far. Wood expects this to improve as companies like Intellia Therapeutics bring innovative genome-editing solutions to treat diseases.  

“We believe we’re a strong complement to the broad-based benchmarks, mainly because we’re so different,” she said, adding, “And truth will win out.”

Cathie Wood remains confident in her bold predictions for Bitcoin, as she believes BTC could reach between $650,000 and $1.5 million by 2030. She also pointed to regulatory relief under the current administration as a major driver of progress in areas like healthcare.

While acknowledging the volatility of the ARK Innovation ETF, Wood described it as a smaller, strategic option for those looking toward the future. She emphasized that even though pandemic trends temporarily boosted Ark Invest shares, the real value lies in the advanced technology and research behind her investments. 

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