The founder of Ark Invest said that if institutional companies increase their Bitcoin investments, the leading cryptocurrency can reach price levels of $ 500,000 in the future.
Cathie Wood: Bitcoin Is A Very Different Asset Class From Others
Speaking to CNBC on December 9, Ark Invest CEO Cathie Wood stated that cryptocurrencies have a very different structure from other asset classes and do not yet have a large-scale institutional investment. Cathie Wood said that institutional managers should take some steps towards this asset class, and if institutional investors allocate 5% of their portfolio, the price of Bitcoin can reach up to $ 500,000 in the long run.
Institutional Investment in Bitcoin Increases
On December 9, Michael Saylor, CEO of MicroStrategy, announced that the company had bought 1434 BTC for $82.4 million. MicroStrategy, which is the company that makes the highest institutional investment in Bitcoin, increased the amount of Bitcoin in its portfolio to 122,477 with its latest purchase.
MicroStrategy, Tesla and Square became one of the corporate companies with the highest amount of Bitcoin in their portfolios with their Bitcoin purchases. Giant technology companies such as Microsoft and Apple have not yet invested in any crypto assets. Only Tim Cook, Apple’s CEO, said that he has invested in some cryptocurrencies individually, but that this is a personal preference, not an institutional level.
The information contained in this article does not constitute investment advice. Investors should know that cryptocurrencies carry risks due to their high volatility and should perform their transactions in line with their own research.