Bitcoin Breaks $1 Million! – Cathy Wood


 The founder and Chief Executive Officer (CEO) of Ark Invest, Cathie Wood stands by her stance in predicting that the mother of all cryptocurrencies Bitcoin (BTC) will reach $1 million by 2030.

Although Grayscale's Bitcoin Trust (GBTC) suffered a drastic price drop when the FTX crisis bled the crypto market, Cathie Wood still believes in the long-term potential of BTC and other digital assets.

For context, GBTC is the largest BTC fund managing over 635,000 BTC equivalent to $1.5 million.

Compared to other investors who think that the crypto market has no potential to climb again, Wood is convinced that the fall of the crypto market is his golden opportunity to earn some BTC.

Commenting further, Wood also believes that most large companies in the coming year will start accepting Ethereum (ETH) as one of the cryptos that can benefit them greatly.

Also clarified, he including Michael Saylor previously also performed similar actions by predicting the movement that BTC will do in April.

In the meantime, GBTC shares reportedly recorded a decrease of 27% at $8.40 while Ark Invest continued to buy shares with a total of $1.5 million.

In fact, Ark Invest bought $273,000 worth of shares last week when the crypto market was rocked by the FTX issue.