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Cathie Wood: Expects Bitcoin price to exceed 1 million dollars within 5 years.
On August 13, Cathie Wood, CEO of Ark Invest, stated in an interview with CoinDesk: "ARK's bullish prediction for Bitcoin still far exceeds $1 million in five years. I believe the bigger driving force now is its role as an entry point for institutions into digital assets, as well as an alternative to gold as a store of value, and our view on this has not changed at all. ARK had predicted that Ethereum would become an institutional protocol, and this prediction is now coming to fruition: the L2 solutions from CEX and Robinhood are both based on Ethereum; the growth of stablecoins is primarily concentrated on the Ethereum network; unlike Bitcoin, Ethereum's treasury companies offer utility and staking features; although Ethereum's transaction costs are higher and its speed is slower, it provides a higher degree of decentralization and security. The ARK ETF will play an important role in ETH and has already invested in Tom Lee's ETH treasury company BMNR to gain utility and staking features."