Cathie Wood, CEO of Ark Invest, has made a strong prediction regarding the price of Bitcoin (BTC): it could reach an unbelievable $600,000 in the near future. Wood based her projection on the innovative technology of Bitcoin, offering a digital, rules-based platform unlike anything that has been seen before. Additionally, the scarcity of Bitcoin as a digital asset is driving up demand from institutional investors. To further this process, Ark Invest is currently pushing for the approval of a Bitcoin ETF from the SEC, which could infuse the market with institutional money and drive up the currency's price. The verdict of the SEC is expected in January 2021, and depending on the outcome, could have a large impact on the value of Bitcoin.



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