Ark Invest is an asset management company focused on disruptive innovation. Under CEO Cathie Wood, the company manages thematic exchange-traded funds (ETF) built around various technologies, including blockchain and cryptocurrency.

Ark has long been bullish on Bitcoin (CRYPTO: BTC). In 2015, it became the first public fund manager to gain exposure to the cryptocurrency, which traded around $200 at the time. Nearly a decade has passed, and Bitcoin is now worth $70,000, but Wood and her team still see substantial upside for investors.

The company published a Bitcoin valuation model in 2023 that posited a price of $1.5 million by 2030. That implies more than 2,000% upside from its current price. But Ark quietly revised its target higher after the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January 2024. Wood made that information public at the Bitcoin Investor Day conference last month, saying:

Continue reading

Source Fool.com