ARK Invest is an asset management company based in the USA founded by Cathie Wood in 2014. In Feb 2021, the company’s assets under management stood at $50 billion. In a recent interview with a major crypto tabloid, Cathie Wood points towards the much expected and highly anticipated Bitcoin breakthrough out of the $1 trillion evaluation. Wood believes that if the potential demand relative to limited supply is taken into consideration, the unlimited growth potential of BTC can be seen tilting dominantly towards the bull probability.
According to Wood, the peculiar behaviors of major stakeholders like Tesla, MicroStrategy, and Square Inc. in converting the flagship cryptocurrency into cash diversification options is a surprising development. This move has made it possible to register Bitcoin as the “first new asset class” of the millennium. Wood emphasized the importance of low correlation returns on Bitcoin, which in her opinion, is a decidedly striking quality from an asset locator’s point-of-view.
To the ordinary eye, it may seem that whales have started to part with their BTC holdings one after another. However, the BTC whale pod is preparing to pop-up in a new sustainable and nurturing environment of hedge funds.
Crypto enthusiast Willy Woo uses a solid price discovery measure URDP to explain that Bitcoin is less likely to dip below the $1 trillion marks in the future. URPD or Unrealized Price Distribution showed the price when the coin was last moved. This indicator is affected by purchases and accounts for internal movements between exchanges and retail wallets. Woo’s opinion is in line with Cathie Wood, who endorses Bitcoin after conducting rigorous Monte Carlo Simulations to predict the uncertainties involving the flagship cryptocurrency.
Top 12 Altcoins to Watch Out for In April
Bitcoin is not the only digital asset that directs massive organic traffic of investors from all corners of the world. Austin Arnolds, a crypto maniac and influencer, has recently published a list naming the top 12 altcoins that are going to blow up in April. He has taken into consideration the VR real estate ventures like MANA and Sandbox due to the mainstream adoption of this technology.
He also placed Ethereum, Cardano, and Polkadot in the same group based on the possibilities enabled by smart contracts. Other noteworthy names in this list are Uniswap, which can become a favorite choice for liquidity providers, and the Chainlink network due to the recently vamped up decentralized oracle model on this LINK native blockchain.