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Crypto News: In a current televised interview on CNBC, famend investor Cathie Wood, the CEO of Ark Invest, made a daring prediction for the longer term price of Bitcoin. According to Wood’s evaluation, the flagship cryptocurrency may surge to a staggering $1 million by 2030, with its base worth at present hovering round $600,000.

Cathie Wood Maintains Bullish Stance On Bitcoin

Despite the regulatory challenges and lawsuits focusing on crypto platforms working within the United States, Wood stays steadfast in her optimistic outlook. She views Bitcoin as an ideal hedge in opposition to inflation and counterparty threat, highlighting its distinctive attributes. Wood describes Bitcoin’s creation as a “very big idea” and refers to it because the “first global, private, no government oversight, digital, rule-based monetary system.”

Read More: Michael Saylor Proposes Bitcoin To Solve Turkish Lira Issue

This isn’t the primary time Wood has made audacious worth predictions for Bitcoin. In a May 2021 interview with Bloomberg, she forecasted that Bitcoin would attain $500,000 by 2026. In early 2022, she additional raised the bar, setting the goal at $1 million by 2030. Wood’s unwavering confidence stems from its capability to stand up to monetary crises, highlighting the current banking turmoil the place Bitcoin’s worth remained resilient, thereby appearing as a “flight to safety” in accordance to Woods.

Woods Optimistic Take On Coinbase & Regulations

Wood has additionally expressed bullish sentiments concerning Coinbase, the main cryptocurrency trade within the United States. In mild of current authorized challenges confronted by Coinbase and the Binance exchange amid the U.S. SEC’s wild crypto crackdowns, Wood differentiated between the 2 — asserting that the crypto heavyweights didn’t belong to the identical class. Moreover, Wood maintained her optimism surrounding COIN’s stock price as evidenced by her current purchases of the equities.

While talking concerning the ongoing proposals and payments introduced by Congress to legitimize cryptocurrencies together with stablecoins, the 67-year-old investor was quoted as saying:

We now have the Judicial system and the Legislative system getting concerned on this matter and I believe it’s nice”

In addition, Woods was of the opinion that current occasions would finally pave the way in which for extra regulatory readability on digital property and pathways for companies to register with the involved authorities.

Also Read: Binance To Temporarily Suspend All Crypto Margin And Earn Related Services

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