Cathie Wood’s $1.5M Bitcoin Bull Case Hasn’t Changed

Cathie Wood is still sticking with ARK Invest’s long-term Bitcoin bull case.
Her $1.5 million target for $BTC has not changed.
What has changed is the reasoning behind it.
Gold has significantly outperformed Bitcoin over the past year, but Wood argues that this does not invalidate the Bitcoin thesis.
She points out that gold also led Bitcoin during the early stages of the previous two crypto cycles.
In both cases, Bitcoin eventually caught up and dramatically outperformed once liquidity and risk appetite shifted.
That pattern may now be repeating.
Gold has benefited first from fiscal concerns, geopolitical risk and demand for hard assets.
Bitcoin could represent the next stage of the same trade if investors increasingly treat it as a scarce monetary asset.
The target is unchanged.
The path to getting there is evolving.