1 Top Cryptocurrency to Buy Before It Soars 1,453%, According to ARK Invest CEO Cathie Wood
Cathie Wood and her firm ARK Invest have a propensity for high-flying tech and artificial intelligence stocks. That's why it's no surprise to see Wood and ARK embracing cryptocurrencies and the blockchain networks they run on. In fact, few have been more optimistic about cryptocurrencies than Wood, except for perhaps Michael Saylor.Wood has been particularly bullish on the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), in part because she views it as a form of digital gold and therefore an inflation hedge. Wood has always had a high price target for Bitcoin but now sees a higher likelihood of her thesis playing out.Wood and ARK have previously issued a bear, base, and bull case for Bitcoin in 2030. The bear case is $300,000, which represents a compound annual growth (CAGR) rate of 21%. The base case is $710,000, representing a CAGR of 40%, and the bull case of $1.5 million represents a CAGR of 58% and 1,453% upside from Bitcoin's current levels (as of Feb. 14).Continue reading
Cathie Wood and her firm ARK Invest have a propensity for high-flying tech and artificial intelligence stocks. That's why it's no surprise to see Wood and ARK embracing cryptocurrencies and the blockchain networks they run on. In fact, few have been more optimistic about cryptocurrencies than Wood, except for perhaps Michael Saylor.
Wood has been particularly bullish on the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), in part because she views it as a form of digital gold and therefore an inflation hedge. Wood has always had a high price target for Bitcoin but now sees a higher likelihood of her thesis playing out.
Wood and ARK have previously issued a bear, base, and bull case for Bitcoin in 2030. The bear case is $300,000, which represents a compound annual growth (CAGR) rate of 21%. The base case is $710,000, representing a CAGR of 40%, and the bull case of $1.5 million represents a CAGR of 58% and 1,453% upside from Bitcoin's current levels (as of Feb. 14).
