By Laura Sánchez
Investing.com – Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $ 50 billion in assets, expects the price to exceed $ 500,000 in the next five years. “If we are correct, and companies continue to diversify their cash into cryptocurrencies, and institutional investors begin to allocate 5% of their funds to this sector … We believe that the price [de bitcoin] it will be ten times higher than today, “said Cathie Wood on Monday, in statements collected by CNBC.
Wood also said that his trust in has grown as the blockchain begins its transition from proof of work to proof of stake. Ether was trading at $ 3,294, down 2.8% in the past 24 hours.
When CNBC Asked what his options are, if he were only to invest in cryptocurrencies, Wood said he would allocate 60% to Bitcoin and 40% to Ethereum.
An SEC filing last Friday reveals that Ark Investment is investing in Canadian Bitcoin ETFs.
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