Wood Sister: Bitcoin is expected to exceed $500,000 in 5 years

According to a report on September 14, Cathie Wood, founder of Ark Capital, said at the SALT conference hosted by Skybridge Capital on Monday that Bitcoin is expected to exceed $500,000 within five years.

She said: "If our predictions are correct, companies continue to diversify their cash into things like cryptocurrencies, and institutional investors begin to put 5% of their funds into cryptocurrencies, we believe the price of Bitcoin will be ten times what it is today." She also expressed her confidence in Ethereum. When asked how she would allocate her funds if she could only invest in these two cryptocurrencies, she said she would put 60% in Bitcoin and 40% in Ethereum.

Wood said she does not currently hold NFTs, but she talked about her love for the NFT platform Async Art, which allows users to buy pixels of digital artworks and create layers on top of them. She said that when she heard the Async Art CEO tell her story, she felt like the birth of the Internet.