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CryptoSister's Latest Forecast
Cathie Wood, speaking at Bitcoin Investor Day in New York, stated that the widespread adoption by institutional investors and the launch of new ETF products mean she predicts that the price of Bitcoin, in a bullish scenario, could be over $2 million higher than her existing target price, reaching $3.8 million by 2030.
Wood explained, "Last year we put out a bull case for Bitcoin, with a target price of $1.5 million. Our analysis is that if institutional investors allocate over 5% of their portfolios to Bitcoin, as we expect them to in the future, over time, this alone will increase the forecasted price by $2.3 million."
Several industry veterans also predict that the upcoming Bitcoin halving event, expected to occur in April, could trigger a supply shock, further fueling the current demand-driven uptrend.
Speaking at a conference hosted by Reflexivity Research, Cathie Wood said she expects the upcoming halving event to have a similar effect to previous events. Following the halving events in 2012, 2016, and 2020, Bitcoin prices rose by 8,069%, 284%, and 559%, respectively, in the 12 months afterward.
"We believe there is still a long way to go for Bitcoin. We are still in the initial stages of building a web-based financial ecosystem and eliminating all toll collectors," Wood said.
In January, Wood stated in an interview, "ARK Invest's fundamental prediction for the price of Bitcoin is to reach within the range of $600,000 by 2030. With the approval of a Bitcoin ETF by the SEC, the likelihood of a bull market has increased, and if that happens, by 2030, it could reach $1.5 million."
ARK Report
In February of this year, Cathie Wood, along with her ARK research team, released the "Big Ideas 2024" report as scheduled.
In this 163-page report, Wood continues to focus on "disruptive innovation technologies" and mentions the blockchain sector multiple times. Here's a summary:
In the future, with the widespread adoption of blockchain technology, all funds and contracts may move to public blockchains to verify digital scarcity and proof of ownership.
The financial ecosystem is likely to reset to accommodate the rise of cryptocurrencies and smart contracts.
These technologies increase transparency, reduce the influence of capital and regulatory controls, and lower contract execution costs.
In such a world, as more assets become like money and businesses and consumers adapt to new financial infrastructures, digital wallets will become increasingly necessary, and corporate structures themselves may be questioned.
Additionally, she mentions Bitcoin script, which is a disruptive innovation that introduces a unique numbering system for each Bitcoin Sats, making each Sats identifiable and immutable, allowing users to record their data, images, or text.
The report also discusses how Bitcoin is evolving into a reliable hedge asset amid macroeconomic uncertainty and declining trust in traditional "safe-haven assets":
Security and capital preservation: Bitcoin operates on a decentralized network, free from the influence of any single entity, central bank, or government. Its open-source nature protects it from arbitrary asset seizures and counterparty risks.
Diversification: Bitcoin has a low correlation with traditional asset classes, enhancing its role in portfolio diversification. Adding an uncorrelated asset to a portfolio may increase the return per unit of risk and provide a buffer during market downturns.
Long-term investment perspective: Despite short-term volatility, Bitcoin has significant potential for long-term price growth due to its design and scarcity.
Liquidity and accessibility: Investors worldwide can access and trade Bitcoin 24/7, highlighting its importance during periods of uncertain hedging.
Inflation hedge: Bitcoin has a supply cap of 21 million coins. Its scarcity feature aligns it with gold as an inflation hedge.
Legendary Figure of the Era
Cathie Wood is the founder and CEO of ARK Investment Management LLC, known as "ARK Invest." Her real name is Cathie Wood.
She is a renowned growth stock investor, known for investing in disruptive innovative technologies such as artificial intelligence, electric vehicles, blockchain, and genetic sequencing.
Her investment philosophy is to choose companies that can change the world, rather than those that won't change with the world.
Her fund achieved an astonishing 134% return rate in 2020, surpassing the S&P 500 Index's 18.4%. She is also a global investment sensation, with a large number of fans and followers.
Wood's growth trajectory is legendary. Born in 1955, her father was a radar systems engineer, and her mother was a homemaker. She has been interested in technology and finance since she was young and graduated with dual degrees in economics and finance from the University of Southern California. She has worked at several investment firms, including Jennison Associates, Alliance Capital, and Tupelo Capital.
She once boldly predicted that Tesla's stock price would reach $4,000 (adjusted for the current stock split ratio) and held a large amount of Tesla stock. She is also a loyal fan of Bitcoin and has repeatedly suggested that Bitcoin could reach a price target of $1 million per coin.
She has accumulated rich experience and insight in the investment field, but has also faced setbacks and criticism. She was once fired for insisting on buying growth stocks such as Amazon and Tesla, and has been criticized by the media and peers for fluctuations in fund performance.
In conclusion, Cathie Wood, the soul of ARK Investment Management LLC, is renowned for her deep insights into growth stocks, penetrating the disruptive nature of innovative technologies.
Her faith in Bitcoin is not just a praise for the currency revolution, but also a firm vision of the future—a digital gold that may reach the sky of $3.8 million per coin, expected to garner broad support from institutions.
The ARK research team paints a new financial world view in their "Big Ideas 2024" report: in the not-too-distant future, the flow of funds will converge on Layer1 assets such as Bitcoin, reshaping the financial ecosystem, and leading to the evolution of corporate and social structures. |
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Post time 2-4-2024 06:35:07