The price of the first cryptocurrency may increase by another $500,000, thanks to the activity of institutional investors. This opinion was expressed by the founder of Ark Invest, Cathy Wood, in an interview CNBC, writes cryptocurrency.tech.
According to Katie Wood, such investors are looking for opportunities outside of traditional asset classes and are moving to cryptocurrency right now.
“Part of the reason this is happening is that this is a new asset class with different correlations than other assets,” Wood emphasized.
If institutions allocate about 5% of their portfolio to bitcoin, it will add $500,000 to the current price, she allowed.
“Institutional managers should look at new asset classes with low correlations, which are the key to diversification and the holy grail in terms of asset allocation,” concluded the founder of Ark Invest.
