Bitcoin

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Bitcoin may have recently hit a new all-time high above $90,000, but ARK Invest’s Cathie Wood says it still has a “long way to go.”&nbsp;
She pointed out that Ark was the first public asset manager to gain exposure to Bitcoin in 2015 at $250, “and we still at $90,000 think we have a long way to go,” she <a data-ct-non-breakable="null" href="https://www.cnbc.com/video/2024/11/15/watch-cnbcs-full-interview-with-ark-invest-ceo-cathie-wood.html" rel="null" target="null" text="null" title="null">said</a> in an interview on CNBC’s Squawk Box on Nov. 15.&nbsp;
Wood said the continued momentum would be driven by “regulatory relief,” one of the most <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-presidency-sec-reform-pro-crypto-regulations" rel="null" target="null" text="null" title="null">important things</a> expected from the new United States administration.
She said that Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) is now being viewed as a new asset class. “It is a new asset class and what that means is institutions, and asset allocators are saying ‘this asset is behaving differently from all our other assets and we need to include it.’”&nbsp;
Wood also reiterated her price <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-bull-cathie-wood-ark-invest-btc-price-target-1m" rel="null" target="null" text="null" title="null">prediction</a> over the next five years:&nbsp;
<blockquote>
 “We have a 2030 target in our base case, it’s around $650,000, in our bull case, it’s between $1 million and $1.5 million.”
</blockquote>
<figure>
 <img alt="Bitcoin Regulation" src="https://s3.cointelegraph.com/uploads/2024-11/01933d62-1e41-7e9f-9d87-c454c10c9657" title="">
 <figcaption style="text-align: center;">
 Cathie Wood on Squawk Box. Source: CNBC
 </figcaption>
</figure>
<a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/the-history-of-bitcoin-when-did-bitcoin-start" rel="null" target="null" text="null" title="null">Bitcoin</a> prices hit an all-time high of $93,477 on Nov. 13, according to CoinGecko. It has yet to enter into price discovery above this level and pulled back slightly a few days after the peak, but had returned above $90,000 during early trading on Nov. 18.&nbsp;
On Nov. 16, Wood <a data-ct-non-breakable="null" href="https://twitter.com/CathieDWood/status/1857569183522754949" rel="null" target="null" text="null" title="null">said</a> that based on onchain analytics and analysis, “the bull market in Bitcoin is in good shape,” before adding:&nbsp;
<blockquote>
 “After its halving in April, growth in the supply of Bitcoin dropped to 0.9%, below the long-term growth in the supply of gold for the first time!”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/i-put-most-my-wealth-bitcoin-i-am-fully-committed-rfk-jr" rel="null" target="null" text="null" title="null">‘I put most of my wealth into Bitcoin, so I am fully committed’ — RFK</a>
In a video posted on X on Nov. 11, Wood <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/defanging-sec-could-turbocharge-us-economy-cathie-wood" rel="null" target="null" text="null" title="null">said</a> that “defanging” finance regulators such as the Securities and Exchange Commission, combined with a focus on technologically enabled innovation in artificial intelligence, digital assets, and other fields, is “likely to turbocharge the US economy.”
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-price-thanksgiving-trader-btc-etf-options-cftc-hodlers-digest/" rel="null" target="null" text="null" title="null">Saylor doubts $60K Bitcoin retrace, BTC ETF options, and more: Hodler’s Digest</a>

Bitcoin still has ’a long way to go' at $90K: Cathie Wood

Cointelegraph

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