Founder and CEO of Arc Invest Cathy Wood doubling down on his prediction Bitcoin BTC/USD will reach $500,000 and Jim Cramer Can’t help but laugh.
Wood sees exponential growth: In the release of Arch Invest’s Big Ideas for 2023, Wood said that “one bitcoin could be worth more than $1 million in the next decade.”
She supported this in an interview on CNBC’s “Squawk Box” on February 1.
When Squawk Box Co-Host Andrew Ross Sorkin When asked the CEO of Arc Invest if she still believes that bitcoin can go to $500,000, she said yes, “In fact, we are slightly higher than our base case for the year 2030, and our In the bull case, there are too many.”
He explained that the crypto space took a hit after The Fall of FTX and several related firms, but he highlighted the strength of bitcoin and Ethereum ETH/USD Full chaos has been shown.
“They really didn’t miss a beat. All the transactions went through. All the smart contracts opened and closed,” Wood said.
“This idea of transparency and decentralization is catching on and bitcoin and ethereum are two of its best expressions in the crypto world.”
Related Links: Cathy Wood’s ark sees bitcoin joining the trillion dollar club by 2030 – here are its bearish, average and bullish price views
Cramer’s Take: Jim CramerWHO Sold off your bitcoin and ethereum positions Couldn’t stop laughing after the interview in 2021. He called her predictions “strange” and said it was as if she was “looking at a painting upside down.”
“It was funny. I mean I said ‘hoo-ha,’ I laughed,” Kramer said.
He mocked the founder of Arc Invest, saying, “I’ll look at your $500,000 and I’ll raise you $500,000.”
“When I was in the Sea of Galilee and I walked on the water, it was a wonderful time,” he said. “I’m trying to find something that can be just as bizarre!”
Cramer’s Outlook on the Crypto Space Has Gone Front Back During the most recent bull run, but since he cut his positions and bought a farm with the proceeds in late 2021, he has stood by the sentiment that crypto is likely just a “giant thief,
Wood, on the other hand, sticks to his call that bitcoin will appreciate rapidly over the next five to 10 years.
It remains to be seen whether the world’s oldest and greatest cryptanalyst will ever be able to crack the Ark’s lofty goals.
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Originally published on February 1, 2022.