Cathie Wood, CEO of Ark Invest, predicts BTC will hit $ 500,000 in 5 years while praising Ethereum, so we read more today on our latest bitcoin news.

Cathie Wood predicts Bitcoin will soar to $ 500,000 in 5 years, and the bold prediction was made when the CEO of Ark Invest spoke to a CNBC executive Andrew Ross Sorkin during the fintech SALT conference in New York . She added that the prediction depends on companies and investors diversifying their portfolios by allocating around 5% to BTC:

“We believe the price will be ten times today’s price, which is more than $ 500,000 instead of $ 45,000.”

The finance manager added that it would be Bitcoin if she held a cryptocurrency, as countries treat it like legal tender, but ether is also booming in development activity. Cathie Wood is also optimistic about ETH, which has increased 360% since the beginning of the year. Regarding the company’s future exposure to crypto, she said Ark will have 60% BTC and 40% Ethereum. Wood added that the company will have become much more confident with Ethereum as the transition to PoS begins. Decentralized finance is exciting too, and she adds that it’s great because of its ability to disrupt traditional finance:

“I am intrigued by what is happening at DeFi that is cutting the cost of financial services infrastructure in ways that the traditional financial industry does not currently appreciate.”

Pretty confident that the crypto space will not be regulated to death, but claims that no regulator wants to be held responsible for preventing the next big breakthrough in fintechs. The market rebounded a bit today, with BTC trading 4% higher at $ 47,000 that day, according to data from CoinGecko. BTC is currently at a one-week high, trading above the 50-day and 200-day moving averages that formed a golden cross a few hours ago. Ethereum sees its hash rate hit ATH, up 3.2% and trading at $ 3,400 at press time, while ETH is down slightly over the past week but has yet to break resistance to rise.

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