Cathie Wood Still Sees Bitcoin Heading to $1 Million

Cathie Wood Still Sees Bitcoin Heading to $1 Million

Renowned money manager Cathie Wood, chief executive of Ark Investment Management, remains one of bitcoin’s biggest evangelists.

“We think bitcoin has just begun” Wood said in an interview on CNBC. Institutions are just starting to catch up to individuals in using bitcoin, she said.

Wood called the world’s biggest digital currency a hedge against inflation. But she didn’t mention that bitcoin has slid 26% during the past year, while inflation has exploded. Consumer prices surged 7.9% in the 12 months through February.

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