Renowned investor and ARK Invest founder Cathie Wood highlighted the growing interest of institutional investors in Bitcoin, marking what she sees as the "next exciting phase" of Bitcoin's growth journey. Wood's comments were in response to billionaire hedge fund manager Philippe Laffont (Trades, Portfolio), founder of tech-focused Coatue Management, who noted that retail investors recognized Bitcoin's value earlier than institutions. Laffont suggested that institutions can no longer ignore Bitcoin's significance.
Wood recalled that ARK offered cryptocurrency exposure to its clients as early as 2015, when Bitcoin was priced at just $250. She credited retail investors for Bitcoin's remarkable 400-fold appreciation since then. With institutions now turning their attention to this new asset class, Wood believes an exciting new chapter for Bitcoin is about to begin.
In a previous interview, Wood reiterated her bullish stance on Bitcoin, predicting its price will reach at least $700,000 in the coming years, which would represent a 580% increase from its current value by 2030.
