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 $1 million 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. “Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.”
