Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?

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Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?

Motley Fool2021-05-27

ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...

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Kevinchai
·2021-05-28
500k can't be happening
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1
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JJQ
·2021-05-28
Just invest a portion of your spare cash! ?
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爱喝水的小猫猫
·2021-05-28
It sounds absurd. Maybe possible but not anytime soon.
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TANKH888
·2021-05-28
If money and gold is worthless.. Why buy bitcoin which is so risky?
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WeeNi
·2021-05-28
Like pls
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1
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- WeeNi:
  ?
  2021-05-31
  Reply
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- ahswee:
  nice!
  2021-05-28
  Reply
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fatpistachio
·2021-05-28
Good job in trying to suck more ppl into ark stocks
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SandDust
·2021-05-28
Of course she is wrong.
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- Supermark:
  Reply to this commEnt pla
  2021-05-28
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tigger_jif
·2021-05-28
Can't Imagine if institutions start picking up BTC..
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tigger_jif
·2021-05-28
Bitcoin go go go!
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Daisysim
·2021-05-28
Wow
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mwsi7128
·2021-05-28
I think can reach 1,000,000
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3
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- JLUljs:
  yes, i believe it's possible too. Just need to keep up to date on the news to see if any gov or big entities is going to place restrictions.
  2021-05-28
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PainJk
·2021-05-28
.
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1
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yvneyng
·2021-05-28
Who knows right? Cryptocurrency is definitely here to stay and it may sound outlandish now but I think it’s possible. Perhaps not the immediately near future but it could peak till that extend I think. That being said, cryptocurrency isso volatile it might not be for the faint hearted.
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KryZ
·2021-05-28
Who knows? But FOMO will ensure lots opportunity to trade & earn $$$ on the way up.?
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tkj
·2021-05-28
Cathie Wood already claimed that the 500k number is just a theoretical number and it is based on institutions investing 5% of their funds into BTC. This means mass adoptions. When will this be? Decades into the future????
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KenYH
·2021-05-27
Like and comment
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- MswwfReplying toSupermark:
  Thanks
  2021-05-28
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- Supermark:
  CommEnt to this pls
  2021-05-28
  Reply
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- Mswwf:
  Comment and like back thanks
  2021-05-28
  Reply
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tangtkh
·2021-05-27
What do you think
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- tangtkh:
  good
  2021-05-28
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- tangtkh:
  good
  2021-05-28
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- Veldora:
  I believe in bitcoin for future value.
  2021-05-27
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OO_898
·2021-05-27
Like
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AppleMango
·2021-05-27
Too optimistic. I doubt!
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- Tchua:
  Yes
  2021-05-27
  Reply
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- VeldoraReplying toTchua:
  10 years ago people dont believe bitcoin, see where it’s standing. New generation is the future.
  2021-05-27
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- AppleMango:
  Pls like n Comments
  2021-05-27
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Suba
·2021-05-27
Expected
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Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","article_id":"2138173559","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","pubTimestamp":1622125800,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Cathie Wood认为比特币可能达到50万美元。她说的对吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARKIU":0.9},"content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":135633375,"gmtCreate":1622160442897,"gmtModify":1704180494597,"author":{"id":"3571456023547256","authorId":"3571456023547256","name":"Kevinchai","avatar":"https://static.tigerbbs.com/16746d99581b93215feab649ccd02d8d","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":4,"crmLevelSwitch":1,"idStr":"3571456023547256","authorIdStr":"3571456023547256"},"htmlText":"500k can't be happening","listText":"500k can't be happening","text":"500k can't be happening","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135633375","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135874171,"gmtCreate":1622159687293,"gmtModify":1704180461140,"author":{"id":"3571627110799155","authorId":"3571627110799155","name":"JJQ","avatar":"https://community-static.tradeup.com/news/56f38f5ea7b683e48c466bc341ca6d33","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":8,"crmLevelSwitch":1,"idStr":"3571627110799155","authorIdStr":"3571627110799155"},"htmlText":"Just invest&nbsp;a portion of&nbsp;your spare cash! ?","listText":"Just invest&nbsp;a portion of&nbsp;your spare cash! ?","text":"Just invest a portion of your spare cash! ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135874171","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135854423,"gmtCreate":1622158990562,"gmtModify":1704180434237,"author":{"id":"3570566515210361","authorId":"3570566515210361","name":"爱喝水的小猫猫","avatar":"https://community-static.tradeup.com/news/e7ef4b0c19dbcbfb2e524fcc32c97dbf","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":8,"crmLevelSwitch":1,"idStr":"3570566515210361","authorIdStr":"3570566515210361"},"htmlText":"It sounds absurd. Maybe possible but not anytime soon.","listText":"It sounds absurd. Maybe possible but not anytime soon.","text":"It sounds absurd. Maybe possible but not anytime soon.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135854423","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135828837,"gmtCreate":1622158447629,"gmtModify":1704180414412,"author":{"id":"3583660884205170","authorId":"3583660884205170","name":"TANKH888","avatar":"https://static.tigerbbs.com/59dee1a92cf748c217b1e0a4e79ec5e8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583660884205170","authorIdStr":"3583660884205170"},"htmlText":"If money and gold is worthless.. Why buy bitcoin which is so risky?&nbsp;","listText":"If money and gold is worthless.. Why buy bitcoin which is so risky?&nbsp;","text":"If money and gold is worthless.. Why buy bitcoin which is so risky?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135828837","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135863297,"gmtCreate":1622157957419,"gmtModify":1704180398060,"author":{"id":"3571130591653625","authorId":"3571130591653625","name":"WeeNi","avatar":"https://static.tigerbbs.com/5cec7818309dd699c7e66180fe4d2081","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3571130591653625","authorIdStr":"3571130591653625"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/135863297","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4516557,"gmtCreate":1622446171297,"gmtModify":1680792162680,"authorId":3571130591653625,"author":{"id":3571130591653625,"idStr":"3571130591653625","authorId":3571130591653625,"name":"WeeNi","avatar":"https://static.tigerbbs.com/5cec7818309dd699c7e66180fe4d2081","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135863297,"type":1,"supId":4480066,"prevId":0,"content":"?","text":"?","html":"?"},{"id":4480066,"gmtCreate":1622172838404,"gmtModify":1680791497345,"authorId":3569301571685332,"author":{"id":3569301571685332,"idStr":"3569301571685332","authorId":3569301571685332,"name":"ahswee","avatar":"https://static.tigerbbs.com/9df9d1562760402e99c23de8c7a82773","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.72%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135863297,"type":1,"supId":0,"prevId":0,"content":"nice!","text":"nice!","html":"nice!"}],"langContent":"EN"},{"id":135808253,"gmtCreate":1622155544372,"gmtModify":1704180333651,"author":{"id":"3582694035180181","authorId":"3582694035180181","name":"fatpistachio","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582694035180181","authorIdStr":"3582694035180181"},"htmlText":"Good job in trying to suck more ppl into ark stocks","listText":"Good job in trying to suck more ppl into ark stocks","text":"Good job in trying to suck more ppl into ark stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135808253","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135801310,"gmtCreate":1622155455030,"gmtModify":1704180331872,"author":{"id":"3581331938298103","authorId":"3581331938298103","name":"SandDust","avatar":"https://static.tigerbbs.com/ea6083d742fc232449a625fb122842c8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3581331938298103","authorIdStr":"3581331938298103"},"htmlText":"Of course she is wrong.&nbsp;","listText":"Of course she is wrong.&nbsp;","text":"Of course she is wrong.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/135801310","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4475289,"gmtCreate":1622156114706,"gmtModify":1680791416462,"authorId":3581636786147439,"author":{"id":3581636786147439,"idStr":"3581636786147439","authorId":3581636786147439,"name":"Supermark","avatar":"https://static.tigerbbs.com/216b88e6021ef8dfdb8a3a1d156559d2","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.11","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135801310,"type":1,"supId":0,"prevId":0,"content":"Reply to this commEnt pla","text":"Reply to this commEnt pla","html":"Reply to this commEnt pla"}],"langContent":"EN"},{"id":135144241,"gmtCreate":1622154105683,"gmtModify":1704180310620,"author":{"id":"3579255193727955","authorId":"3579255193727955","name":"tigger_jif","avatar":"https://static.tigerbbs.com/cbac601abb09b01109f7e23b7a94e7b8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3579255193727955","authorIdStr":"3579255193727955"},"htmlText":"Can't&nbsp;Imagine if institutions start picking up BTC..&nbsp;","listText":"Can't&nbsp;Imagine if institutions start picking up BTC..&nbsp;","text":"Can't Imagine if institutions start picking up BTC..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135144241","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135142255,"gmtCreate":1622153916077,"gmtModify":1704180308032,"author":{"id":"3579255193727955","authorId":"3579255193727955","name":"tigger_jif","avatar":"https://static.tigerbbs.com/cbac601abb09b01109f7e23b7a94e7b8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3579255193727955","authorIdStr":"3579255193727955"},"htmlText":"Bitcoin go go go!&nbsp;","listText":"Bitcoin go go go!&nbsp;","text":"Bitcoin go go go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135142255","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135169230,"gmtCreate":1622148974720,"gmtModify":1704180260706,"author":{"id":"3584528774343667","authorId":"3584528774343667","name":"Daisysim","avatar":"https://static.tigerbbs.com/4b7c4eb94abf2485c43fd7c4958f7dc0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584528774343667","authorIdStr":"3584528774343667"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135169230","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135105467,"gmtCreate":1622138692059,"gmtModify":1704180206230,"author":{"id":"3577516504779986","authorId":"3577516504779986","name":"mwsi7128","avatar":"https://static.tigerbbs.com/2de12058e4995503d289303fb0b984fc","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":0,"idStr":"3577516504779986","authorIdStr":"3577516504779986"},"htmlText":"I think can reach 1,000,000","listText":"I think can reach 1,000,000","text":"I think can reach 1,000,000","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/135105467","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4474948,"gmtCreate":1622154068752,"gmtModify":1680791411941,"authorId":3580016166379606,"author":{"id":3580016166379606,"idStr":"3580016166379606","authorId":3580016166379606,"name":"JLUljs","avatar":"https://static.tigerbbs.com/16b88b4c5c83f1a751fffbd8db4211e2","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135105467,"type":1,"supId":0,"prevId":0,"content":"yes, i believe it's&nbsp; possible too. Just need to keep up to date on the news to see if any gov or big entities is going to place restrictions.","text":"yes, i believe it's&nbsp; possible too. Just need to keep up to date on the news to see if any gov or big entities is going to place restrictions.","html":"yes, i believe it's&nbsp; possible too. Just need to keep up to date on the news to see if any gov or big entities is going to place restrictions."}],"langContent":"EN"},{"id":135347054,"gmtCreate":1622136940878,"gmtModify":1704180183881,"author":{"id":"3585228108310124","authorId":"3585228108310124","name":"PainJk","avatar":"https://static.tigerbbs.com/9de5472bee1fff84d5f6300f19430508","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585228108310124","authorIdStr":"3585228108310124"},"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135347054","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135329395,"gmtCreate":1622132869317,"gmtModify":1704180147563,"author":{"id":"3585192718156791","authorId":"3585192718156791","name":"yvneyng","avatar":"https://static.tigerbbs.com/76e9d3dda84e38df5f92fb2edf5f1be0","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3585192718156791","authorIdStr":"3585192718156791"},"htmlText":"Who knows right? Cryptocurrency is definitely here to stay and it may sound outlandish now but I think it’s possible. Perhaps not the immediately near future but it could peak till that extend I think. That being said, cryptocurrency isso volatile it might not be for the faint hearted.&nbsp;","listText":"Who knows right? Cryptocurrency is definitely here to stay and it may sound outlandish now but I think it’s possible. Perhaps not the immediately near future but it could peak till that extend I think. That being said, cryptocurrency isso volatile it might not be for the faint hearted.&nbsp;","text":"Who knows right? Cryptocurrency is definitely here to stay and it may sound outlandish now but I think it’s possible. Perhaps not the immediately near future but it could peak till that extend I think. That being said, cryptocurrency isso volatile it might not be for the faint hearted.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135329395","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135368834,"gmtCreate":1622132093828,"gmtModify":1704180137937,"author":{"id":"3574671514316116","authorId":"3574671514316116","name":"KryZ","avatar":"https://community-static.tradeup.com/news/8657f0cc14de942f5047d99219cd2d75","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574671514316116","authorIdStr":"3574671514316116"},"htmlText":"Who knows? But FOMO will ensure lots opportunity to trade &amp; earn $$$ on the way up.?","listText":"Who knows? But FOMO will ensure lots opportunity to trade &amp; earn $$$ on the way up.?","text":"Who knows? But FOMO will ensure lots opportunity to trade & earn $$$ on the way up.?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135368834","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135388026,"gmtCreate":1622131278265,"gmtModify":1704180122591,"author":{"id":"3582020830270271","authorId":"3582020830270271","name":"tkj","avatar":"https://static.tigerbbs.com/b4db3635974ce189ed8129eca6b5b618","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3582020830270271","authorIdStr":"3582020830270271"},"htmlText":"Cathie Wood already claimed that the 500k number is just a theoretical number and it is based on institutions investing 5% of their funds into BTC. This means mass adoptions. When will this be? Decades into the future????","listText":"Cathie Wood already claimed that the 500k number is just a theoretical number and it is based on institutions investing 5% of their funds into BTC. This means mass adoptions. When will this be? Decades into the future????","text":"Cathie Wood already claimed that the 500k number is just a theoretical number and it is based on institutions investing 5% of their funds into BTC. This means mass adoptions. When will this be? Decades into the future????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135388026","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135300757,"gmtCreate":1622128956979,"gmtModify":1704180064065,"author":{"id":"3577328076842122","authorId":"3577328076842122","name":"KenYH","avatar":"https://static.tigerbbs.com/d66ef119b8f92fe120002147d2397bdd","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3577328076842122","authorIdStr":"3577328076842122"},"htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/135300757","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4479181,"gmtCreate":1622168436538,"gmtModify":1680791494858,"authorId":3575367152183781,"author":{"id":3575367152183781,"idStr":"3575367152183781","authorId":3575367152183781,"name":"Mswwf","avatar":"https://static.tigerbbs.com/e54ea0d2fbe4ccbd0ab8cb706083c519","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3581636786147439,"repliedAuthor":{"id":3581636786147439,"idStr":"3581636786147439","authorId":3581636786147439,"name":"Supermark","avatar":"https://static.tigerbbs.com/216b88e6021ef8dfdb8a3a1d156559d2","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.11","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":135300757,"type":1,"supId":4473666,"prevId":4475293,"content":"Thanks","text":"Thanks","html":"Thanks"},{"id":4475293,"gmtCreate":1622156134039,"gmtModify":1680791417028,"authorId":3581636786147439,"author":{"id":3581636786147439,"idStr":"3581636786147439","authorId":3581636786147439,"name":"Supermark","avatar":"https://static.tigerbbs.com/216b88e6021ef8dfdb8a3a1d156559d2","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.11","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135300757,"type":1,"supId":4473666,"prevId":0,"content":"CommEnt to this pls","text":"CommEnt to this pls","html":"CommEnt to this pls"},{"id":4473666,"gmtCreate":1622132193666,"gmtModify":1680791394489,"authorId":3575367152183781,"author":{"id":3575367152183781,"idStr":"3575367152183781","authorId":3575367152183781,"name":"Mswwf","avatar":"https://static.tigerbbs.com/e54ea0d2fbe4ccbd0ab8cb706083c519","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135300757,"type":1,"supId":0,"prevId":0,"content":"Comment and like back thanks","text":"Comment and like back thanks","html":"Comment and like back thanks"}],"langContent":"EN"},{"id":135974128,"gmtCreate":1622128836864,"gmtModify":1704180060300,"author":{"id":"3574817325947403","authorId":"3574817325947403","name":"tangtkh","avatar":"https://static.tigerbbs.com/d9ad77ea495b2bbbfb9c10734b6f2fb0","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3574817325947403","authorIdStr":"3574817325947403"},"htmlText":"What do you think","listText":"What do you think","text":"What do you think","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/135974128","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4473841,"gmtCreate":1622133838120,"gmtModify":1680791391903,"authorId":3574817325947403,"author":{"id":3574817325947403,"idStr":"3574817325947403","authorId":3574817325947403,"name":"tangtkh","avatar":"https://static.tigerbbs.com/d9ad77ea495b2bbbfb9c10734b6f2fb0","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135974128,"type":1,"supId":4473414,"prevId":0,"content":"good","text":"good","html":"good"},{"id":4473838,"gmtCreate":1622133810212,"gmtModify":1680791387467,"authorId":3574817325947403,"author":{"id":3574817325947403,"idStr":"3574817325947403","authorId":3574817325947403,"name":"tangtkh","avatar":"https://static.tigerbbs.com/d9ad77ea495b2bbbfb9c10734b6f2fb0","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135974128,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"},{"id":4473414,"gmtCreate":1622130532049,"gmtModify":1680791381121,"authorId":3580473686930895,"author":{"id":3580473686930895,"idStr":"3580473686930895","authorId":3580473686930895,"name":"Veldora","avatar":"https://static.tigerbbs.com/2c60768e017f3418615cd7dea3a291ec","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135974128,"type":1,"supId":0,"prevId":0,"content":"I believe in bitcoin for future value.","text":"I believe in bitcoin for future value.","html":"I believe in bitcoin for future value."}],"langContent":"EN"},{"id":135975438,"gmtCreate":1622128806924,"gmtModify":1704180059317,"author":{"id":"3582969710070724","authorId":"3582969710070724","name":"OO_898","avatar":"https://static.tigerbbs.com/9fb3c360d5d7711641a868a144192fc7","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3582969710070724","authorIdStr":"3582969710070724"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135975438","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":135946601,"gmtCreate":1622128160303,"gmtModify":1704180044425,"author":{"id":"3567141277226150","authorId":"3567141277226150","name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3567141277226150","authorIdStr":"3567141277226150"},"htmlText":"Too optimistic. I doubt!","listText":"Too optimistic. I doubt!","text":"Too optimistic. I doubt!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/135946601","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4473117,"gmtCreate":1622128679504,"gmtModify":1680791384994,"authorId":3561859229387101,"author":{"id":3561859229387101,"idStr":"3561859229387101","authorId":3561859229387101,"name":"Tchua","avatar":"https://static.tigerbbs.com/245ba7d1360ad877e076f09e9d78c378","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135946601,"type":1,"supId":4473035,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"},{"id":4473425,"gmtCreate":1622130585628,"gmtModify":1680791381908,"authorId":3580473686930895,"author":{"id":3580473686930895,"idStr":"3580473686930895","authorId":3580473686930895,"name":"Veldora","avatar":"https://static.tigerbbs.com/2c60768e017f3418615cd7dea3a291ec","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3561859229387101,"repliedAuthor":{"id":3561859229387101,"idStr":"3561859229387101","authorId":3561859229387101,"name":"Tchua","avatar":"https://static.tigerbbs.com/245ba7d1360ad877e076f09e9d78c378","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":135946601,"type":1,"supId":4473035,"prevId":4473117,"content":"10 years ago people dont believe bitcoin, see where it’s standing. New generation is the future.","text":"10 years ago people dont believe bitcoin, see where it’s standing. New generation is the future.","html":"10 years ago people dont believe bitcoin, see where it’s standing. New generation is the future."},{"id":4473035,"gmtCreate":1622128179286,"gmtModify":1680791372758,"authorId":3567141277226150,"author":{"id":3567141277226150,"idStr":"3567141277226150","authorId":3567141277226150,"name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":135946601,"type":1,"supId":0,"prevId":0,"content":"Pls like n Comments","text":"Pls like n Comments","html":"Pls like n Comments"}],"langContent":"EN"},{"id":135943158,"gmtCreate":1622128016774,"gmtModify":1704180039825,"author":{"id":"3577997605150210","authorId":"3577997605150210","name":"Suba","avatar":"https://static.tigerbbs.com/053ae4273b989a37e570ad5f7b35a6d6","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":7,"crmLevelSwitch":0,"idStr":"3577997605150210","authorIdStr":"3577997605150210"},"htmlText":"Expected&nbsp;","listText":"Expected&nbsp;","text":"Expected","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/135943158","repostId":2138173559,"repostType":4,"repost":{"id":"2138173559","pubTimestamp":1622125800,"share":"https://ttm.financial/m/news/2138173559?lang=&edition=fundamental","pubTime":"2021-05-27 22:30","market":"us","language":"en","title":"Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138173559","media":"Motley Fool","summary":"The ARK chief was prophetic in her Tesla call. Can she do it again?","content":"<p>ARK Invest CEO Cathie Wood has been <a href=\"https://laohu8.com/S/AONE\">one</a> of the best investors of the modern era.</p><p>Her flagship exchange-traded fund <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>&nbsp;</b>(NYSEMKT:ARKK), which focuses on disruptive tech stocks like <b>Tesla</b>, <b>Roku</b>, and <b>Square</b>, has returned more than 400% since its founding in 2014, outperforming the <b>S&amp;P 500</b> by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.</p><p>Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.</p><p>The ARK chief has been a big backer of <b>Bitcoin </b>(CRYPTO:BTC) and said at a <i>Barron's </i>virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.</p><p>Let's take a look at Wood's argument before we examine whether it can hit $500,000.</p><h2>Wood's take</h2><p>Back in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.</p><p>Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.</p><p>The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.</p><p>At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.</p><h2>Can Bitcoin really get to $500,000?</h2><p>Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.</p><p>The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.</p><p>The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.</p><p>Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic <a href=\"https://laohu8.com/S/AONE.U\">one</a> than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin <i>could </i>reach a price of $500,000.</p><p>In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&amp;P 500.</p><p>Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the <b>Grayscale Bitcoin Trust&nbsp;</b>and&nbsp;<b>Coinbase</b>.</p><p>Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Thinks Bitcoin Could Reach $500,000. Is She Right?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-27 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla,...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/05/27/cathie-wood-thinks-bitcoin-reach-500k-is-she-right/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138173559","content_text":"ARK Invest CEO Cathie Wood has been one of the best investors of the modern era.Her flagship exchange-traded fund ARK Innovation ETF (NYSEMKT:ARKK), which focuses on disruptive tech stocks like Tesla, Roku, and Square, has returned more than 400% since its founding in 2014, outperforming the S&P 500 by nearly a factor of four, and Wood garnered much acclaim when five of her funds returned more than 100% last year.Though ARK ETFs have mostly slipped this year with the broader sell-off in growth stocks, given her track record, it's worth paying attention to what Wood has to say.The ARK chief has been a big backer of Bitcoin (CRYPTO:BTC) and said at a Barron's virtual conference last November that she saw the cryptocurrency hitting $500,000. Amid the recent crypto crash, Wood reaffirmed her price target on Bitcoin, though she acknowledged the environmental concerns that led Tesla CEO Elon Musk to say his company would no longer accept the digital currency as payment.Let's take a look at Wood's argument before we examine whether it can hit $500,000.Wood's takeBack in Nov. 2020, Wood argued that a number of catalysts were supporting Bitcoin's growth. She called it the reserve currency of the digital ecosystem and essentially said it was the crypto equivalent of the dollar.Wood also noted that the central bank distributed currencies (CBDCs) that countries like China and the U.S. are beginning to create are bullish for Bitcoin and other crypto coins. They will help legitimize cryptocurrencies by giving the idea behind them a government stamp of approval and by highlighting the advantages of cryptocurrencies in general. Those include the fact digital coins like Bitcoin are pseudonymous and can't be tracked to the user, unlike the digital yuan that China is launching.The ARK chief also pointed to the increasing institutional embrace for Bitcoin, and said that if institutions were to allocate around 5% of their funds to Bitcoin the way they have with asset classes like real estate or emerging markets, that would lift the price to $400,000 or $500,000.At those levels, Bitcoin would be worth roughly the same as all of the gold in the world. That fits with another argument for Bitcoin's value, as many backers claim it's digital gold due to it being capped at 21 million coins, which creates artificial scarcity.Can Bitcoin really get to $500,000?Back in 2018, Wood slapped a split-adjusted $800 price target on Tesla, which seemed outlandish at the time as it called for the stock to increase by more than 1,000%. However, Tesla eclipsed that price last year, making Wood look prophetic.The $500,000 price target for Bitcoin implies a similar gain as the currency would have to increase about 12 times to reach that mark.The price target itself makes a good headline, but it's less relevant than Wood's overall bullishness. Price targets give investors a perception of precision that isn't possible even in the stock market, and is even less realistic in an asset class without any fundamentals like cryptocurrency.Wood's math to get to a $500,000 Bitcoin price assumes that institutional investors would build up to a mid-single-digit allocation in the cryptocurrency, something she also said was \"not going to happen.\"  The example was more of an academic one than a realistic one, and an example, along with Bitcoin's supposed equivalence to gold, of how Bitcoin could reach a price of $500,000.In other words, investors shouldn't expect Bitcoin to hit such a level anytime soon, especially as that would imply adding roughly $10 trillion to the cryptocurrency's market value, or the equivalent of about a third of the S&P 500.Still, Wood's bullish stance shouldn't be ignored as she has been right so far about several other disruptive innovations, and her funds have been aggressively gaining exposure to Bitcoin through purchases of the Grayscale Bitcoin Trust and Coinbase.Bitcoin's recent volatility shows the asset still remains highly speculative and confidence in its long-term growth is fickle, but if it does become the digital reserve currency as Wood argued, it could hit her price target given a long enough time frame.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":41,"commentSize":41,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}