Katie Wood: tenfold growth of Bitcoin is possible in 5 years

Ark Invest CEO Kathy Wood suggests that the bitcoin exchange rate may reach $500 thousand in five years.

Wood noted that her forecast depends on whether companies will continue to diversify their balance sheets at the expense of bitcoin and whether institutional investors will start allocating 5% of their funds for the purchase of this cryptocurrency. If this happens, then in five years the price of bitcoin will be ten times higher than today's. Today's bitcoin price is $47 687,10.

The CEO of Ark Invest added that if she could hold only one cryptocurrency, her choice would undoubtedly fall on bitcoin, as countries are gradually beginning to consider it a legal tender. Recall that El Salvador recently made bitcoin a legal currency, and Panama and Ukraine promise to do the same.

Katie Wood also noted the good potential of Ethereum, which has grown by 350% this year. According to her, the shares of bitcoin and ether in the fund's portfolio are 60% and 40%, respectively. The explosive growth of developer activity in the ether network is observed thanks to NFT and DeFi-non-interchangeable tokens and decentralized financing, which reduces the cost of infrastructure for financial services.