Cathie Wood's Off-the-Wall Bitcoin and Ethereum Predictions
Cathie Wood, the manager of the ARK Innovation ETF that is down 70% from its 2021 high, has made nonsensical predictions about Bitcoin and Ethereum. She says that Bitcoin will reach one million dollars by 2030. That's a 53% annualized return over the next eight years given its current $33,000 price . And she predicts that Ethereum will reach 180,000 by 2030. That's a 72% annualized increase from $2,400.
Can you really believe that these increases or anything close to them are possible? I don't. Beware of drinking the crypto hype Kool-Aid.
Posted May 9, 2022.