EXCLUSIVE: Why Does Cathie Wood Think Bitcoin Is Going To $1 Million — What Does She Know That We Don't?
Portfolio Pulse from Chris Katje
Ark Invest Founder Cathie Wood believes that the price of Bitcoin will rise and could hit $1 million by 2030. She suggests that the approval of Bitcoin ETFs could increase demand for Bitcoin. Coinbase Global Inc is a top holding in the Ark Innovation ETF, Ark Next Generation Internet ETF, and the Ark Fintech Innovation. Wood also highlighted the importance of Coinbase’s partnership with BlackRock Inc for the cryptocurrency sector. The Grayscale Bitcoin Trust is also a top holding in the Ark Next Generation Internet ETF.
August 24, 2023 | 7:07 pm
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POSITIVE IMPACT
Ark Fintech Innovation ETF holds Coinbase as a top asset. Cathie Wood's positive outlook on Bitcoin could potentially increase the ETF's value.
Cathie Wood's positive outlook on Bitcoin and the potential approval of Bitcoin ETFs could increase the demand for Bitcoin-related assets, which could potentially increase the value of the Ark Fintech Innovation ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Innovation ETF holds Coinbase as a top asset. Cathie Wood's positive outlook on Bitcoin could potentially increase the ETF's value.
Cathie Wood's positive outlook on Bitcoin and the potential approval of Bitcoin ETFs could increase the demand for Bitcoin-related assets, which could potentially increase the value of the Ark Innovation ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Next Generation Internet ETF holds Coinbase and Grayscale Bitcoin Trust as top assets. Cathie Wood's positive outlook on Bitcoin could potentially increase the ETF's value.
Cathie Wood's positive outlook on Bitcoin and the potential approval of Bitcoin ETFs could increase the demand for Bitcoin-related assets, which could potentially increase the value of the Ark Next Generation Internet ETF.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
BlackRock Inc's partnership with Coinbase, a top holding in Ark ETFs, is seen as important for the cryptocurrency sector by Cathie Wood.
BlackRock's partnership with Coinbase could potentially increase the company's exposure to the growing cryptocurrency market, which could have a positive impact on its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Coinbase Global Inc is a top holding in Ark ETFs. Cathie Wood's positive outlook on Bitcoin and the importance of Coinbase’s partnership with BlackRock could potentially increase the company's stock price.
Cathie Wood's positive outlook on Bitcoin and the potential approval of Bitcoin ETFs could increase the demand for Bitcoin-related assets, which could potentially increase the value of Coinbase's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Grayscale Bitcoin Trust is a top holding in the Ark Next Generation Internet ETF. Cathie Wood's positive outlook on Bitcoin could potentially increase the trust's value.
Cathie Wood's positive outlook on Bitcoin and the potential approval of Bitcoin ETFs could increase the demand for Bitcoin-related assets, which could potentially increase the value of the Grayscale Bitcoin Trust.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80