Posted 3/22/2024, 6:48:00 PM
Cathie Wood Raises Bitcoin Price Target to $3.8 Million on Institutional Adoption, New ETFs
- Cathie Wood has raised her bitcoin price target to $3.8 million based on increased institutional adoption and new ETF products
- Her firm Ark Invest previously gave a $1.5 million price target in January 2022
- Bitcoin is currently trading around $63,768
- Institutional investors allocating 5% of portfolios to bitcoin could add $2.3 million to the price target
- The upcoming bitcoin halving event in April 2023 could create a supply shock and further drive up demand