Cathie Wood forecasts Bitcoin’s market capitalisation to reach $4.5 trillion

ARK Invest CEO Cathie Wood told Peter McCormack, in an episode of the What Bitcoin Did podcast, about her expectations for Bitcoin’s market capitalization.

She forecast growth to $4.5 trillion when Bitcoin was trading at about $250. It was then that Wood asked renowned economist Arthur Laffer to study the white paper on digital gold.

Wood was interested in Bitcoin’s prospects as a unit of account, a store of value, and a means of exchange. Laffer spoke positively about the first cryptocurrency.

“I’ve been looking for this since we abandoned the gold standard. Bitcoin is a rules-based monetary system,” he said.

Laffer also compared the prospects for the market capitalisation of digital gold with the size of the US monetary base.

Wood added that this conversation prompted her to immediately invest more than $100,000 in Bitcoin, which at a price of $250 equated to 400 BTC (over $7.7 million at the time of writing).

Earlier, Bitcoin maximalist and MicroStrategy founder Michael Saylor predicted a new all-time high for the price of the first cryptocurrency within the next four years.

In October, investor and Shark Tank star Kevin O’Leary said that the prices of digital gold will resume growth after a bill regulating stablecoins was passed.

In the same month, Galaxy Digital founder Mike Novogratz suggested that the bear market could continue for another six months.

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