Bitcoin ETF

Bitcoin

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<p>Cathie Wood, CEO of Ark Invest, <a href="https://www.youtube.com/watch?v=VckCQvXeF68&amp;ab_channel=YahooFinance" rel="noopener noreferrer nofollow">has reaffirmed</a> her bold prediction that Bitcoin's price could soar to an astounding $600,000.&nbsp;</p>
<p>This projection was shared during a recent Yahoo! Finance interview, during which Wood discussed the potential of Bitcoin and the broader digital currency market, including the upcoming launch of new digital asset <a href="https://u.today/imminent-bitcoin-etf-decision-could-shake-crypto-market" rel="noopener noreferrer nofollow">ETFs</a> by Ark Invest in collaboration with 21Shares and the anticipated approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).</p>
<h2 id="the-basis-for-the-600-000-prediction">The basis for the $600,000 prediction</h2>
<p>In her interview, <a href="https://u.today/25-trillion-crypto-economy-predicted-by-cathie-wood" rel="noopener noreferrer nofollow">Wood</a> emphasized the revolutionary nature of Bitcoin, stating that her firm's "base case" as of today is $600,000 to $650,000."&nbsp;</p>
<p>She underscored Bitcoin's unique position as the first global, digital, private, rules-based monetary system. According to the famed stock picker, this is a stark contrast to the current unhinged state of global monetary policy.&nbsp;</p>
<p>As noted by Wood, Bitcoin's potential stems from its scarcity and the institutional interest it has garnered. "There will only be 21 million Bitcoin ever...and we think that institutions, if the SEC blesses a Bitcoin ETF, will feel like the coast is clear," she explained.&nbsp;</p>
<h2 id="the-path-to-a-spot-bitcoin-etf">The path to a spot Bitcoin ETF</h2>
<p>The conversation also touched on the potential for a spot Bitcoin ETF, a development Ark Invest is actively pursuing with <a href="https://u.today/ark-and-21shares-team-up-for-groundbreaking-spot-ethereum-etf" rel="noopener noreferrer nofollow">21Shares</a>.&nbsp;</p>
<p>Wood shared her optimism about the SEC's changing attitude, noting, "This time...we got questions back from the SEC, which means they're engaged." She considers this a positive shift, indicating a higher likelihood of approval.&nbsp;</p>
<p>The SEC's decision, which is expected to come <a href="https://u.today/bitcoin-could-see-etf-approval-tsunami-analyst" rel="noopener noreferrer nofollow">by Jan. 10</a> could significantly impact the adoption and valuation of Bitcoin.</p>

Bitcoin (BTC) Price Predicted to Reach $600,000 by Cathie Wood

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