Tuesday, October 7, 2025

Latest

Cathie Wood Still Expects Bitcoin to Hit $500K Despite Crypto Collapse

Despite Bitcoin’s massive plunge that erased more than $500 million from its value, Cathie Wood does appear to be phased. The head of Ark Investment Management still expects the cryptocurrency to reach a price of $500,000, despite all other market signs signalling otherwise.

Wood pointed to a broader market selloff among highly volatile sectors, which is also dragging Bitcoin lower as well as inflation fears set in. “We go through soul searching times like this and scrape the models, and yes our conviction is just as high,” she told Bloomberg TV. Bitcoin is down nearly 40% since the beginning of the month, and currently sits at just above $35,000 at the time of writing.

Although Tesla CEO Elon Musk, another proponent of bitcoin, has recently soured on the cryptocurrency due to its negative environmental impact, Wood anticipates it to only be temporary, especially once bitcoin incorporates renewables into its mining technology. “Elon will come back and be part of that ecosystem.”

However, despite her long-term bullish outlook, bitcoin and its other digital token counterparts may face for instability before bouncing back. “You never know how low is low when a market gets very emotional,” Wood said. “I think we’re in a capitulation phase. That’s a really great time to buy no matter what the asset is,” she added.

The flagship cryptocurrency has been the subject of a dramatic descent from record-highs noted in the beginning of the year. The sharp selloff in the world’s largest digital currency can be attributed to a number of negative catalysts and headlines, including Tesla’s sudden reversal on accepting bitcoin as payment, as well as China’s recent onslaught of new regulations targeting the digital token.


Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Binance Ends Stock Token Support Immediately Following Additional Regulatory Crackdowns

It appears that Binance is finally waving the white flag. The company this morning issued...

Friday, July 16, 2021, 08:49:10 AM

Gold’s Place in a Digital World: How Can We Make Mining Sexy Again? | Kai Hoffmann

In this interview, Kai Hoffmann of Soar Financial provides insight into the evolving junior mining...

Saturday, December 14, 2024, 09:33:00 AM

Major Chinese Crypto Exchange Bans Bitcoin Mining Operations

In a further effort to curtail bitcoin mining and subsequent cryptocurrency use in China, a...

Tuesday, May 25, 2021, 02:21:00 PM

Bitcoin Hash Rate Recovers After 38% Drop During Arctic Blast

Bitcoin’s hash rate plunged about 38% leading to the holiday weekend as extreme weather pushed...

Tuesday, December 27, 2022, 03:10:00 PM

Cathie Wood Dumps Nearly $140 Million in Tesla Amid Recent Rally

Cathie Wood has liquidated some of her fund’s Tesla stock, as a recent rally in...

Saturday, September 11, 2021, 05:38:00 PM