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- Cathie Wood believes the entry of BlackRock in the crypto world doubled the price of Bitcoin (BTC).
- It must noted that BlackRock teamed up with Coinbase, last week.
ARK Invest is an asset management company. The founder, Cathie Wood, shared her thoughts related to the crypto industry. The collaboration of Coinbase and BlackRock affects increased price fluctuation of BTC. This collaboration assumed to open the path for institutional traders in crypto trading.
What did the Founder of ARK Invest, Cathie Wood Said?
In the recent YouTube video of Cathie Wood, she shared about her company’s study. ARK Invest studied about the institutions which are entering into the crypto field. As per their study, the institutions have to invest 2.5% of their portfolios into the crypto world. Also, the institution further demands to access crypto with low volatility.
By applying the same concept of 2.5% with BlackRock’s $40 trillion platform. It would be worth more than $1 trillion of demand. And the level of demand is “more than double.” This whole analysis is observed by the executive of ARK Invest.
Illustrated by Wood, “The illiquid supply, according to our estimates, is about 14 million out of the roughly… 18-19 million Bitcoin outstanding… And by our calculations, only three million units are truly liquid. And so the demand – if we were to see a $1 trillion increase in demand – then it would drive the price up much higher than the doubling that I mentioned.” As per the BTC metrics she expects more surge in BTC.
Yet, the collabs of major institutions may state a green phase in the crypto world. And the study of ARK Invest may fall to be true. But it is also reviewed that crypto is a volatile market. So no one or any firm can predict the future of these asset currencies.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
