ARK Invest CEO Cathie Wood: Bitcoin Could Explode Above 3,500%

Accoridng to the latest reports, it looks like Bitcoin’s price could explode soon. Take a look at the latest predicitons about the price of the most important digital asset.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $25,450.

ARK Invest CEO Cathie Wood has just doubled down on her prediction that king crypto Bitcoin (BTC) will hit seven figures.

Wood made sure to say the fact that in a new Bloomberg interview that she remains confident that her $1 million target for Bitcoin will be realized.

She said that the prevailing global economic environment is raising her confidence in the flagship crypto asset.

“The more uncertainty and volatility there is in the global economies, the more our confidence increases in Bitcoin.”

She continued and stated the following:

“And one of the reasons is we’ve just been through an inflationary scare. We think it was very much supply-chain driven and Bitcoin was/is a hedge against inflation.”

The ARK Invest CEO stated the fact that a deflationary macroeconomic environment is looming. She explained the fact that Bitcoin would have another purpose beyond acting as a buffer against inflation.

“We also believe now that the bigger risk is deflation, not inflation. And why would Bitcoin do well in that circumstance? It would do well because it’s an antidote to counterparty risk in the traditional financial system.”

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It has been just revealed that there is a popular crypto analyst who is breaking down Bitcoin (BTC), Ethereum (ETH), and the rest of the crypto markets after a busy week.

The crypto markets have been tumultuous this week, and this has been mainly happening in response to the U.S. Securities and Exchange Commission’s (SEC) two lawsuits against Coinbase and Binance.