ARK Invest CEO Cathie Wood spoke about Bitcoin in an interview Wednesday. While Wood thinks that Bitcoin will take place in the balance sheet of more companies over time; ARK Invest continues to pursue an optimistic policy towards its future.
Cathie Wood spoke to Benzinga CEO Jason Raznick on Wednesday. Stating that innovative companies such as Tesla will continue to grow, Wood gave the message that this could also apply to Bitcoin.
Tesla shares make up about 10% of ARK Invest’s investment basket. Founded in 2014, the company achieved a 136% return in 12 months with the investments it made during the pandemic period.
There may be a 10-fold increase in price
Companies such as Square, Tesla, MicroStrategy include Bitcoin in their balance sheets. According to Cathie Wood’s statements, the managers of technology companies said, “Why don’t we buy bitcoin?” they began to ask.
Bitcoin is expected to be used by more companies over time. According to ARK Invest’s research, if companies in the United States allocate 1% of their balance sheets to Bitcoin, the price can rise to “up to $ 400,000”.
In the analysis report published by JPMorgan Chase on February 25, it was stated that 1% of investment portfolios could be allocated to Bitcoin.