Cathie Wood Anticipates $1.5M Bitcoin: ‚Everyone Will Want It at The End of The Day‘

• ARK Invest CEO Cathie Wood believes Bitcoin will reach $1.5 million in the next decade.
• She commented that the regional banking crisis in March has made ARK’s bull case for Bitcoin increasingly likely.
• Investors have flocked to Bitcoin as a safe haven asset, causing its price to rally from $19,000 to almost $30,000.

ARK Invest CEO Believes in Bitcoin’s Future

ARK Invest CEO Cathie Wood has expressed that the company’s confidence in Bitcoin reaching a price of $1.5 million within the next decade has increased. On Bloomberg TV on July 17, Wood commented that the aftermath of the regional banking crisis in March has made ARK’s “bull case” for Bitcoin increasingly likely.

Banking Crisis Leads to Flight to Safety

According to Wood, the banking crisis resulted in investors flocking to Bitcoin, even amidst a general meltdown in the stock market. This “flight to safety” caused Bitcoin to rally to almost $30,000 from $19,000, which shows that the flagship crypto has become a viable safe-haven asset, much like gold.

Bitcoin Becoming an Insurance Policy

Wood believes Bitcoin will continue to establish itself as an „insurance policy“ against inflation and that „everyone will want it at the end of the day.“ She sees this trend taking place over time rather than overnight and believes that investing now would be advantageous for those looking for long-term growth potential with their portfolios.

SEC Investigating Elon Musk

Elizabeth Warren recently asked SEC regulators to investigate Elon Musk’s dual roles at Twitter and Tesla over potential conflicts of interest between them. Binance also announced cuts on employee benefits and hinted at more layoffs as profits decline due to low trading volume during this period of uncertainty and volatility across markets and assets alike.

Arkham Intel Exchange Offers Crypto Wallet Bounties

Do Kwon, Sam Bankman-Fried, and Elon Musk are among some high-profile individuals offering bounties on Arkham’s Intel Exchange for those who find vulnerabilities or bugs within their respective crypto wallets or projects they support or work on regularly. US lawmakers also recently urged SEC regulators rethink existing crypto regulations following last year’s landmark ruling on XRP being deemed as not being a security by US courts after years-long legal battles between Ripple Labs Inc., its executives, and US regulators alike

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