1 Unstoppable Cryptocurrency to Buy Before It Soars 1,660%, According to Cathie Wood’s ARK Invest


Cathie Wood is one of the most vocal bulls on Wall Street when it comes to the potential of the technology sector. She founded ARK Investment Management, which operates several exchange-traded funds (ETFs) focused on investing exclusively in innovative technologies like cryptocurrency, artificial intelligence (AI), robotics, and more.

In fact, ARK was one of the first firms to win approval from the Securities and Exchange Commission to launch a Bitcoin (CRYPTO: BTC) ETF last year. Wood and her team are extremely bullish on the world’s largest cryptocurrency, predicting it could soar 1,660% to $1.48 million per coin by the year 2030.

The crypto currently trades at around $84,000, which is 21% below its record high. If ARK’s prediction is right, the recent dip could be a great buying opportunity.

A digital rendering of a Bitcoin token being charged by a bull.
Image source: Getty Images.

Bitcoin has a market capitalization of $1.6 trillion, which accounts for more than half of the total value of every cryptocurrency in circulation across the industry. If it were a company, it would be the seventh largest in the entire world.

It’s a speculative asset because it doesn’t generate any revenue or earnings, nor does it have a legitimate use case in the real world. Therefore, its value is very hard to pin down.

Nevertheless, it has a series of unique qualities that have led investors to believe it’s a good store of value, like a digital version of gold.

It’s completely decentralized, which means it can’t be controlled by any person, company, or government. It also has a capped supply of 21 million coins, which won’t be fully mined until around the year 2140, so it offers the perception of scarcity. Lastly, as I touched on earlier, it can be purchased through dozens of ETFs from different issuers, allowing financial advisors and institutional investors to own it in a safe, regulated manner.

Those attributes have paved the way for Bitcoin to march to new record highs recently, despite most other cryptocurrencies failing to break above their best-ever levels from 2021 (or in some cases, even earlier).

In fact, had you bought Bitcoin 10 years ago and held on, you would be sitting on a 29,100% return — enough to have turned an investment of $10,000 into $2.9 million! It has obliterated every other asset class over the last decade, from stocks to real estate to gold:

Bitcoin Price Chart
Bitcoin price data by YCharts.

In a report issued in 2023, ARK highlighted eight potential factors that could drive Bitcoin higher over the long term, but not all of them make sense, in my opinion. For example, it thinks Bitcoin could become the currency of choice in emerging markets, but even after El Salvador became the first country to adopt it as legal tender in 2021, it appears most consumers still aren’t willing to use it (partly because of its volatility).



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