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Bitcoin at $1 million? You must be joking, netizens troll Cathie Wood on her forecast

Cathie Wood's forecast on Bitcoin prices was met with jeer from netizens, including Samir Arora of Helios Capital, as the crypto's price hit a two-year low of $15,649.

November 23, 2022 / 11:59 AM IST
Catherine Wood, chief executive officer of ARK Investment Management LLC, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 2, 2022.  Photographer: Lauren Justice/Bloomberg

Catherine Wood, chief executive officer of ARK Investment Management LLC, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, May 2, 2022. Photographer: Lauren Justice/Bloomberg

Cathie Wood is holding on to her forecast of Bitcoin reaching $1 million by 2030 and the internet is in splits.

The founder, CEO and CIO of Ark Invest, an investment firm, in an interview with Bloomberg, averred the prospects of Bitcoin despite the crypto hitting a two-year low, which led to netizens joking about her prediction.

"Bitcoin is coming out smelling like a rose, one thing that will be delayed perhaps the institutions stepping back, once they actually do the homework and see what's happened here, I think they'd be more comfortable moving into Bitcoin and Ether as a starting point."

Conviction intact