CEO of Ark Invest shows confidence in ETH grows ‘dramatically’

ARK invest CEO shared her point of view on Bitcoin and Ethereum and double downed her prediction on the price of bitcoin and Ethereum. 

Cathie Wood, CEO of Ark Invest, speaking on Monday during a live stream at the SALT Conference in New York, said that future exposure to crypto was likely to be around 60% Bitcoin and 40% Ethereum. 

Cathie believes that Bitcoin will hit almost $500,000 by 2026. And also she has huge expectations from Ethereum because of their updates. 

According to Cathie, there are many companies which are moving their portfolio in Bitcoin like assets by at least 5% and also bitcoin adoption by many countries are increasing, so these things will help Bitcoin to reach a high level. 

Speaking on Ethereum, she said that the Ethereum network update through the London Hard Fork is an appreciable effort and also after Bitcoin, People are choosing Ethereum to invest their money. 

Also she believes that Bitcoin will always remain Currency for the Cryptocurrency market. And also other countries will follow El Salvador to adopt Bitcoin as currency. 

Cathie Wood further appreciated the growth of Defi platforms and claimed that it is making the Decentralization financial system more efficient. She also claimed that traditional financial institutions are not going to appreciate Defi. 

She further added 

“Our confidence in Ethereum has gone up dramatically as we have seen the beginning of the transition from proof-of-work to proof-of-stake.”

Cathie wood considered the matter of Yield services of Coinbase which is threatened by the SEC. She said that it is a clear indication of how the crypto market is growing fastly. 

Read also: Private meeting between Fidelity & SEC to approve Bitcoin ETF