Home Cryptocurrency Bitcoin’s Market Cap Could Erupt to $4,500,000,000,000, According to ARK Invest’s Cathie Wood – Here’s Why

Bitcoin’s Market Cap Could Erupt to $4,500,000,000,000, According to ARK Invest’s Cathie Wood – Here’s Why

by WOOWinvest
0 comment
Bitcoin’s Market Cap Could Erupt to $4,500,000,000,000, According to ARK Invest’s Cathie Wood – Here’s Why


Fund manager Cathie Wood says she believes Bitcoin’s (BTC) market capitalization could rise meteorically and become more valuable than most fiat currencies around the globe.

In a new interview on What Bitcoin Did with BTC advocate Peter McCormack, the ARK Invest CEO says she asked prominent economist Art Laffer to “rip apart” Bitcoin’s whitepaper to see if BTC can serve the three roles of money, which are store of value, unit of account and medium of exchange.

Wood says Laffer said Bitcoin could potentially be the asset that upholds the value of the US dollar.

“Art [Laffer] did rip it apart, which was fantastic, and he came back to us and said, ‘I’ve been looking for this ever since we went off the gold exchange standard. It’s a rules-based monetary policy, rules-based monetary system.’ And he said… ‘It’s a rule and we need to get back to this.’ And I said to him, ‘Art, how big could this be?’ And he said, ‘Well, how big is the US monetary base?’

Now, Bitcoin was $250 at that time so roughly a $6 billion network value or market cap. I said, ‘It’s $4.5 trillion.’ He said, ‘There’s your answer.'”

Wood says that Laffer’s response motivated her to ‘immediately put a lot of money’ in BTC.

“So I put, I don’t think I’ve disclosed this before, but I put $100,000 in. I don’t even know [the amount of BTC bought], and I wasn’t counting at the time. And I’ve kept it all. Because as soon as he said that, a light bulb went up.”

At the time of writing, Bitcoin is trading at $19,215. With a market capitalization of over $368 billion, BTC could rise more than 1,122% if it’s valuation soars to $4.5 trillion.

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/jdrv_art

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy