Published: February 2, 2024 at 11:56 a.m. ET
Cathie Wood’s ARK Investment Management estimates that Bitcoin prices could skyrocket to $2.3 million thanks to “optimal allocation” to the cryptocurrency from a massive global base of investable assets.
ARK made the estimate in its latest annual “big ideas” research report, which puts the global investable asset base at $250 trillion. A 19.4% allocation to bitcoin would correspond to a bitcoin price of around $2.3 million, according to a chart in the report.
ARK,…
Cathie Wood’s ARK Investment Management estimates that Bitcoin prices could skyrocket to $2.3 million thanks to “optimal allocation” to the cryptocurrency from a massive global base of investable assets.
ARK made the estimate in its latest annual “big ideas” research report, which puts the global investable asset base at $250 trillion. A 19.4% allocation to bitcoin would correspond to a bitcoin price of around $2.3 million, according to a chart in the report.
ARK, founded by its chief investment officer Wood, is among several companies that recently launched bitcoin spot ETFs approved by the U.S. Securities and Exchange Commission in January.
Shares of the ARK 21Shares ARKB Bitcoin ETF, which manages $665 million in assets, were up 0.8% Friday morning, according to FactSet data, at last check.
Bitcoin prices are volatile, raising concerns about what even a small exposure to the cryptocurrency could do to investors’ wallets if prices fall. Bitcoin price
BTCUSD
were trading at around $43,177 as of Friday morning, according to FactSet data, when last checked.
Published: February 2, 2024 at 11:56 a.m. ET
Cathie Wood’s ARK Investment Management estimates that Bitcoin prices could skyrocket to $2.3 million thanks to “optimal allocation” to the cryptocurrency from a massive global base of investable assets.
ARK made the estimate in its latest annual “big ideas” research report, which puts the global investable asset base at $250 trillion. A 19.4% allocation to bitcoin would correspond to a bitcoin price of around $2.3 million, according to a chart in the report.
ARK,…
Cathie Wood’s ARK Investment Management estimates that Bitcoin prices could skyrocket to $2.3 million thanks to “optimal allocation” to the cryptocurrency from a massive global base of investable assets.
ARK made the estimate in its latest annual “big ideas” research report, which puts the global investable asset base at $250 trillion. A 19.4% allocation to bitcoin would correspond to a bitcoin price of around $2.3 million, according to a chart in the report.
ARK, founded by its chief investment officer Wood, is among several companies that recently launched bitcoin spot ETFs approved by the U.S. Securities and Exchange Commission in January.
Shares of the ARK 21Shares ARKB Bitcoin ETF, which manages $665 million in assets, were up 0.8% Friday morning, according to FactSet data, at last check.
Bitcoin prices are volatile, raising concerns about what even a small exposure to the cryptocurrency could do to investors’ wallets if prices fall. Bitcoin price
BTCUSD
were trading at around $43,177 as of Friday morning, according to FactSet data, when last checked.