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International Business Times
International Business Times
Business
Nica Osorio

ARK's Wood Forecasts Bitcoin Will Take A Bite Out Of Gold's Market Share, Reach $1M

Bitcoin Cathie Wood Gold Ark Invest Elon Musk Yassine Elmandjra Amazon Google Microsoft
Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. (Credit: Reuters / Brendan McDermid)

KEY POINTS

  • 'Bitcoin is the equivalent of digital gold,' says Wood
  • ARK's Wood recently said that Bitcoin is backed by the largest computer network in the world
  • At 11:13 a.m. Eastern Time on Sunday, Bitcoin was trading at a price of $41,640.91

Cathie Wood, the founder and CEO of the investment management firm ARK Invest, has conveyed her optimistic perspective on Bitcoin, foreseeing a bullish trajectory for the cryptocurrency.

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