Ark Invest, led by Cathie Wood, invests in disruptive companies. Innovative companies have high growth potential and attractive long-term investment rewards. The famous investor likes new tech, thus her fund likes digital assets. One top cryptocurrency, according to Cathie Wood, might rise 3,186% to $2.3 million. Maybe you should buy.
The Bitcoin bull case As the oldest and most valuable cryptocurrency, Bitcoin (CRYPTO: BTC) draws attention. Since 2023, its price has risen 325%. The asset has been highlighted more. Cathie Wood thinks there's much more potential. Ark Invest's Big Ideas 2024 report suggests Bitcoin's price might reach $2.3 million. This is a 33-fold increase from today's $70,000 (April 11 morning).
This high price prediction is because Bitcoin will attract more capital over time. Nearly 20% of $250 trillion in worldwide investible assets would go to Bitcoin at $2.3 million. Why would more investors acquire and hold Bitcoin? One reason the digital asset could become a portfolio staple is my opinion.
All about scarcity. Never more than 21 million coins will circulate. Owning something with a limited supply sounds smart. Cathie Wood and Ark Invest further claim that Bitcoin's price climbed significantly in 2023 after the regional financial crisis, proving its safety. Bitcoin can lower investor risk because to its capital preservation, diversity, and liquidity, according to the firm.
Consider buying near record highs? Bitcoin is at record highs. Naturally, investors may ponder if this is a good moment to acquire crypto. Cathie Wood agrees. Bitcoin is currently benefited by many catalysts. The recent acceptance of spot ETFs gives Bitcoin some legitimacy. Upcoming halvings have historically been positive since they lower new supply. Increased institutional acceptability and regulatory clarity are additional positives.
Ark Invest found that investors who bought and held Bitcoin for five years made money. Those who missed the rally should be encouraged. To clarify, investors should learn about this particular asset and its distinctive attributes. Only then can you gain the conviction to last through inevitable turbulence.
If you decide to buy Bitcoin for your portfolio, consider dollar-cost averaging. This removes market timing requirements. To take advantage of many entry opportunities, buy Bitcoin regularly. Keep a long-term perspective.
Cathie Wood's Bitcoin price forecast seems unrealistic, and it's unclear if it even comes close. Don't rule out buying this top crypto today.
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