ARK Invest CEO Cathie WoodOnce again, the largest cryptocurrency is Bitcoin $94,806.6He claimed that the price of (BTC) would exceed $1 million by 2030. Wood added that Bitcoin’s fixed supply gives it an advantage over gold. Speaking to Bloomberg, the famous investor said, “When the price of gold rises, production increases, but the supply of Bitcoin is fixed.”
Spot Bitcoin ETFs Draw Investors to the Market
Bitcoin rose 120 percent throughout 2024, reaching over $100,000. Wood attributed this rise to the spotlight in the US. Bitcoin He attributed it to the proliferation of ETFs and the increase in institutional interest.
“Grayscale Bitcoin Trust and ARK 21Shares Bitcoin ETF “Tools such as these make it easier for investors to access cryptocurrencies,” he said, adding, “Bitcoin’s fixed supply ceiling of 21 million units makes it an even more scarce asset.”
M&A Activity is Expected with the Trump Administration
Wood, 2024 US Presidential electionsIt is expected that there will be an increase in merger and acquisition (M&A) activities after this period. “The FTC was blocking mergers,” Wood said. “However, this obstacle will be removed with the Trump administration,” he said, predicting that there would be activity especially in the banking and biotechnology sectors. Bank of America analysts also state that M&A activities in the financial sector increased by 50 percent during the Republican administrations.
Wood also stated that Ark Innovation ETF reorganized its portfolio with sales in Tesla and Palantir shares. “Companies at the forefront of innovation will be rewarded in this period,” said Wood, underlining that the markets are open to expansion and growth.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
