Cathie Wood, CEO of ARK Invest and manager of the popular investment fund ARK innovation, said that a single bitcoin could be valued at $250,000 if more companies added cryptocurrencies to their balance sheets.
“If all companies in the United States invested 10% of their cash reserves in Bitcoin, that alone would add $200,000 to the value of this digital currency,” Wood told CNBC on Wednesday.
Wood told CNBC, she was surprised by the rate at which Nasdaq giants are incorporating Bitcoin into their balance sheets. “We were expecting institutions to buy Bitcoin,but the way in which it’s picked up has surprised us …”
However, she said she doubted that such changes would happen soon and expected the Bitcoin to have to mature further before a large-scale inclusion could take place.