The American investor assured that her fund focused on innovation is the “new NASDAQ”, after having obtained a profit of close to 40% in the first months of 2023.
Cathie Wood is one of the most recognized and respected analysts in the Wall Street environment. The expert recently assured that a good future is in store for Bitcoin, and that, in the coming years, its price will take off significantly.
Wall Street guru Cathie Wood has been characterized as a faithful cryptocurrency enthusiast, having even recently acquired $30 million in Coinbase shares. On this occasion, Wood published a report called ‘Big Ideas 2023’, in which she made it clear that there is an interesting future for Bitcoin.
According to Wood, who currently serves as executive director of the firm Ark Invest, this digital asset would reach $500,000 in the coming years. Despite having a worrisome 2022, the Bitcoin outlook has changed significantly in the first months of 2023, scoring a 43% rise.
The report also indicates that Bitcoin continues to position itself as one of the best investment options, despite how difficult the year 2022 was:
“The fundamentals of the flagship cryptocurrency remain strong, and indeed, the recent crisis in the industry has only strengthened bitcoin’s long-term opportunities.”
“The New NASDAQ”
This is not the first time that Cathie Wood has been so openly supportive of the world of cryptocurrencies, making some rather controversial claims. At the beginning of February 2023, the American investor assured that her fund focused on innovation is the “new NASDAQ”, after having obtained a profit of close to 40% so far in 2023, adding almost double that of the Nasdaq 100.
Likewise, Wood reiterated his forecast that Bitcoin will exceed a million dollars per coin in the next decade.
Cathie Wood not only defends and supports investments in cryptocurrencies but also trusts companies with disruptive business objectives, which have a double-digit growth forecast on their value in no more than five years.
Wood is an enthusiast for topics such as Artificial Intelligence, the human genome, 3D printing, and space exploration, among many others, which is why she revealed her disagreement with the difficulties that these industries had to go through in 2022, by saying that “innovation was one of the biggest casualties of the massive interest rate hike we saw last year.”
ARK Success Amid Crisis
In the past year, ARK, the investment firm Wood founded in 2014, has taken in $37 billion for its new investments, a figure second only to two other investment management companies Vanguard Group and iShares, which manage hundreds of funds.
In fact, Ark Innovation, the main fund that Wood manages, has grown 10-fold in size in the last year to $22 billion.
By Audy Castaneda
