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In one of the most bullish estimates around, the firm called for Bitcoin to reach $500,000 by 2026 just last September.
For Bitcoin to reach a $1,000,000 price tag it would need to go up nearly 2,000% in a little under eight years.
Cathie Wood and her firm arrived at these estimates after composing multiple research papers that took one of the most comprehensive, in depth evaluations on the current and future state of Bitcoin.
In her typical candid fashion, Wood laughed that when considering how wide the political divide has become recently, of all things, Bitcoin now has bipartisan support.
Wood directly referenced the innovation and integral role of Bitcoin’s Layer 2 scaling solution, the Lightning Network, for bringing more users to Bitcoin domestically.
In general, Wood believes there is “an incredible number of use cases and Bitcoin is leading the charge.” Opportunities abound for Bitcoin to be used as a hedge against government manipulation of currencies in developing markets.
Ark Invest has done its due diligence, and just like Babe Ruth, Cathie Wood has called her shot.
The year 2030 will be here before we know it and that fits perfectly into the age-old investment strategy of buy and hold.