Cathie Wooden nonetheless expects Bitcoin to finally be priced at $500K

• Cathie Wooden reiterates her tremendous bullish stance on Bitcoin.
• She doesn’t see the latest FTX collapse as a lot of a menace.
• Bitcoin is presently up about 40% versus the beginning of the yr.

The latest surge in Bitcoin is only a drop in a bucket in comparison with the place the value is headed, says Cathie Wooden – Founding father of Ark Funding Administration.

Wooden continues to be tremendous bullish on BTC

Bitcoin was an absolute ache for traders final yr however none of it was sufficient to show her dovish on the cryptocurrency. Wooden nonetheless recommends shopping for BTC and expects it to finally be priced at half one million {dollars}.

Much more so after the crypto fallout this previous yr and collapse in lots of firms, this concept of transparency and decentralisation is taking maintain. Bitcoin and Ethereum are the 2 finest manifestations of that within the crypto world.

The U.S. Federal Reserve is predicted to announce its eighth consecutive charge hike on Wednesday, which makes at the moment equally essential not only for the equities however the crypto house as nicely.

12 months-to-date, Bitcoin is up roughly 40% at writing.

Wooden’s tackle the latest FTX collapse

The crypto market was significantly spooked late final yr following the collapse of Sam Bankman-Fried’s FTX that Coin Journal reported HERE.

However Cathie Wooden doesn’t see it as a lot of a long-term menace for the likes of Bitcoin and Ethereum. This morning on CNBC’s “Squawk Field”, she mentioned:

When you have a look at what occurred to Bitcoin, the community, and Ethereum, the community, they actually didn’t skip a beat in any respect. Transactions have been accomplished. All good contracts opened and closed.

Wooden has a large place within the Grayscale Bitcoin Belief as nicely that, in 2022, sued the U.S. SEC for blocking conversion of its crypto product to an ETF.