Ark Investment Management CEO Cathie Wood said in a Bloomberg TV interview that Bitcoin (BTC) will go to $500,000 despite the largest cryptocurrency continuing to plunge. Cathie Wood said that bitcoin is "on sale" now and said that even after today's drop, the cryptocurrency is not necessarily at a bottom. She describes the market as "emotional" and says it is difficult to call the bottom.The ARKK 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. Cathie Wood, also believes the controversial Tesla CEO and Dogecoin proponent, Elon Musk, will again embrace Bitcoin once greater adoption of renewable energy has occurred within the mining sector.

#ARKK #Bitcoin #ElonMusk
~Cathie Wood Says Bitcoin To $500,000 | Elon Musk vs $BTC~
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