Cathie Wood: Expected Bitcoin price to surpass $1 million within 5 years

BlockBeats News: On August 13th, Cathie Wood, founder and CEO of ARK Invest, stated in an interview with CoinDesk that "ARK's bullish forecast for Bitcoin will still far exceed $1 million within five years. I think the bigger driving force now is that it has become an entry point for institutions to enter digital assets, as well as a substitute for gold as a store of value, and our view on this has not changed at all. ARK once predicted that Ethereum would become an institutional protocol, and now this prediction is being realized: Coinbase and Robinhood's L2 solutions are both based on Ethereum; The growth of stablecoins is mainly concentrated on the Ethereum network; Unlike Bitcoin, Ethereum's treasury company provides practicality and staking capabilities; Although Ethereum has higher transaction costs and slower speeds, it provides a higher degree of decentralization and security. The ARK ETF will hold a significant position in ETH and has already invested in Tom Lee's ETH treasury company BMNR to gain utility and staking capabilities