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Cathie Wood, who is the CEO and chief investment officer of Ark Investment, made a prediction during an interview with Bloomberg, suggesting that Bitcoin will hit a price of $1 million by 2030.Bitcoin is really the first of a new asset class, and it will be the largest opportunity of them all,” Wood stated. As a result of this increasing institutional adoption and supply-demand dynamic, she argues that the likelihood of BTC reaching $1 million is now considerably higher. Referencing Ark Investment’s Big Ideas 2023 research report, Wood highlighted the asset’s inherent scarcity as a key driver of its growing demand.Responding to criticism of BTC’s speculative character, Wood drew parallel to gold, with both acting as stores of value. Also, she noted that BTC’s annual supply growth rate has recently fallen to 0.9%, lower than gold’s long-term average supply growth rate of 1%, meaning that BTC is more scarce than gold. Wood said that while gold could lead to increasing supply in a rising price environment, BTC cannot due to its decentralized mechanism. “Like gold, Bitcoin is secured by its scarcity, but unlike gold it’s backed by the largest computing system in the world, making it the most secure network in the world,” she explained. It is this mathematical scarcity along with its decentralized and rules-based design that differentiates BTC as a radically new era financial asset, Wood claimed. Wood largely credits the sudden boom in digital asset adoption to the COVID-19 pandemic, which she says has “turbocharged” a period of financial self-education by younger investors whose personal standards for accreditation traditionally fall short. This change has been also documented in statistics; where 63% of people invested in cryptocurrency in 2021 during the pandemic, with the bulk of adopters being millennials and Gen Z.

$SUI SUI has the potential to become the next Ethereum. But investing in SUI is not for the faint of heart. Year to date, Sui (SUI 0.33%) is up almost 300%, and now ranks among the top 15 cryptocurrencies in terms of market cap.Although it has attracted enormous attention from crypto insiders, it's still under the radar of most investors. And that presents an interesting opportunity, because Sui is the sort of promising young cryptocurrency that has real potential to become a millionaire maker. THE NEXT ETHEREUM? The first thing you need to know about SUI is that it is a Layer-1 blockchain network, just like Ethereum (ETH -2.45%). This means that SUI is a building block for all products and services that can be built on top of a blockchain, including those related to decentralized finance (DeFi) and blockchain gaming. However, since Sui only launched in May 2023, its overall blockchain ecosystem is considerably smaller than Ethereum's. What makes SUI so compelling is that it is faster, cheaper, and easier to use than Ethereum. In fact, Sui is even faster than Solana, which is generally acknowledged to be the fastest Layer-1 blockchain. According to investment company 21Shares -- the same company that partnered with Ark Invest on the launch of new spot Bitcoin and spot Ethereum exchange-traded funds (ETFs) -- Sui can process 297,000 transactions per second, compared to 65,000 for Solana. And that's one of the reasons I think Sui has the potential to challenge Ethereum one day as the premier Layer-1 blockchain. If that happens, it could send Sui skyrocketing in value. Right now, Sui has a $9 billion market cap, while Ethereum has a nearly $400 billion market cap. So, theoretically, Sui has plenty of upside ahead. RAPIDLY IMPROVING PERFORMANCE METRICS SUI attracted little attention from many investors until this year. That's when the metrics for the Sui blockchain started to explode. Total value locked (TVL), which is a measure of how much value is locked on the blockchain, soared through the $1 billion mark. The total number of daily active accounts broke through the 25 million mark. And the launch of a major new blockchain upgrade suddenly gave Sui the potential to process 297,000 transactions per second.

The possibility of Bitcoin (BTC) reaching $110,000 by the end of 2024 is not impossible but remains uncertain, as analysts and market indicators present mixed opinions. Here's an overview: 1. Current Trends: Bitcoin has recently shown strong momentum, reaching an all-time high of $99,600 in late November 2024, and is currently consolidating in the $92,000–$98,000 range. Some analysts predict that if this trend continues, BTC could break above $100,000, with potential targets between $105,000 and $110,000 by year-end, driven by robust support levels and institutional demand. 2. Bullish Catalysts: Federal Reserve Policy: An anticipated interest rate cut on December 18 could enhance risk-on sentiment, possibly driving Bitcoin's price higher. Historically, lower interest rates have boosted demand for cryptocurrencies. Institutional Inflows: Increasing investments in Bitcoin ETFs and growing adoption by major institutions have created strong upward momentum. 3. Key Resistance and Challenges: While optimism remains, breaking the psychological $100,000 mark may trigger profit-taking, potentially slowing further gains. Open interest in BTC derivatives is at record highs, which could lead to increased volatility and short-term corrections. 4. Price Predictions: Some analysts and firms, including ARK Invest, have set targets as high as $124,000 under favorable conditions. Others, like CryptoQuant, expect the year-end price to stabilize around $58,000–$95,000. In conclusion, while there is potential for Bitcoin to reach $110,000, the path depends on market dynamics, institutional activity, and macroeconomic factors in the coming weeks. A conservative estimate points to BTC crossing $100,000, but $110,000 would require sustained bullish momentum and minimal resistance at key levels.

ARK Investment shifts $16m from ProShares to own Bitcoin ETF ARK Investment Management, led by Cathie Wood, divested from the ProShares Bitcoin ETF, reallocating approximately $16 million towards its own Bitcoin ETF.  This move involved the sale of ProShares Bitcoin ETF (BITO) shares, a pioneering ETF in the Bitcoin futures market in the U.S., and the acquisition of 365,427 shares of ARK 21 Shares Bitcoin ETF (ARKB).  This adjustment resulted in ARKB accounting for 1% of the ARK Next Generation Internet ETF (ARKW). The value of ARKB shares declined to $43.51 on Tuesday, a significant drop from the initial listing price of $49 on Jan. 11. Previously, ARK Investment Management had shifted its investments from the Grayscale Bitcoin Trust (GBTC) to BITO in December in anticipation of the U.S. approving direct Bitcoin ETFs. Cathie Wood had expressed confidence in investing in an already approved fund .

⭐️ Bitcoin is at the beginning of its journey, and it will surpass gold. This statement was made by ARK Investment Management founder Cathie Wood. 💡 She expressed this view in response to a comment by the U.S. Federal Reserve Chair, who referred to Bitcoin as the digital version of gold. At a price of $2,700, gold’s market capitalization is approximately $15 trillion, while Bitcoin’s market cap stands at just $2 trillion. 💬 According to Wood, even after surpassing the $100,000 mark, Bitcoin is still in the early stages of its journey.