1 Popular Cryptocurrency ARK Invest Expects to Surge by 1,480%
Cathie Wood expects Bitcoin to soar to $1.25 million in just five years.
Overview
Cathie Wood, the founder and CEO of Ark Invest, is bullish on cryptocurrencies. ARK's flagship ETFs -- ARK Innovation (NYSEMKT: ARKK), ARK Next Generation Internet (NYSEMKT: ARKW), and ARK Fintech Innovation (NYSEMKT: ARKF) -- all hold shares of crypto stocks such as Coinbase and Robinhood. Its ARK 21Shares Bitcoin ETF (NYSEMKT: ARKB) gives investors direct exposure to Bitcoin (CRYPTO: BTC).
Wood claims Bitcoin, which currently trades at about $79,000, could soar nearly 1,480% to $1.25 million within the next five years. That rally would boost Bitcoin's market cap from $1.6 trillion to $25.1 trillion. For reference, gold -- the world's most valuable asset -- currently has a market cap of $31.3 trillion. Let's see what it would take for Bitcoin to generate those massive gains.
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Originally published at www.fool.com.