Cathie Wood sticks with US$1mil bitcoin forecast

“Bitcoin’s long-term opportunity is strengthening,” strategists led by Yassine Elmandjra wrote in Cathie Wood’s ARK Investment Management’s annual Big Ideas paper. — Reuters

NEW YORK: Even after a horrific 2022 for bitcoin, Cathie Wood’s firm is sticking to one of its boldest predictions yet: that the price of the cryptocurrency will exceed US$1mil (RM4.2mil) in the next decade.

“Bitcoin’s long-term opportunity is strengthening,” strategists led by Yassine Elmandjra wrote in ARK Investment Management’s annual Big Ideas paper published Monday.