Ark Invest purchased more than one million shares of the Grayscale Bitcoin Fund on Tuesday. On Tuesday, prices went down significantly. Bitcoin was below $30000 in the meantime. Besides, Ark Invest bought more Coinbase shares. So, Ark Invest bought the dip!

Cathie Wood, the founder of Ark Invest, is well known for her bitcoin price target. A couple of months ago, she claimed that bitcoin would reach $500000 long-term.

But why does she think so?

The Ark Invest founder thinks that bitcoin will reach this price target because:

  • of low interest rates
  • of institutional demand for bitcoin
  • Bitcoin could become a digital alternative to gold
  • Bitcoin could become an insurance policy against inflation

Let’s see if the recent bitcoin investment pays off for Ark Invest.

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