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What’s behind Cathie Wood’s ARK estimate for bitcoin to surge to $2.3 million

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Christine Idzelis
Sat, February 3, 2024 at 1:56 AM GMT+9
ARK Investment Management, founded by its chief investment officer Cathie Wood, has a bullish take on bitcoin in its “big ideas” report this year.
ARK Investment Management, founded by its chief investment officer Cathie Wood, has a bullish take on bitcoin in its “big ideas” report this year. - Getty Images
Cathie Wood’s ARK Investment Management estimates bitcoin prices could skyrocket to $2.3 million on the back of an “optimal  allocation” to the crypto currency from a massive global investable asset base.

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ARK made that estimate in its latest annual research report on “big ideas,” which pegged the global investable asset base at $250 trillion. A 19.4% allocation to bitcoin would correspond to bitcoin prices at around $2.3 million, a chart in the report shows.

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https://finance.yahoo.com/news/behind-cathie-wood-ark-estimate-165600705.html
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