Bullish on NFTs, Ethereum, Bitcoin! Cathie Wood suggests: 60% Bitcoin, 40% Ethereum

Ark Invest founder Cathie Wood recently reiterated her $500,000 price target for Bitcoin at a conference, but she also expressed excitement about the explosive growth of NFTs. Her investment advice revealed a bullish outlook on Ethereum as well: "60% Bitcoin, 40% Ethereum."

https://www.youtube.com/watch?v=kxT_i0TJpK4

Bitcoin Five-Year Price Target

Cathie Wood participated in the SALT conference hosted by SkyBridge Capital, where the host straightforwardly asked, "How much will Bitcoin be worth in five years?" Cathie Wood responded:

If we are correct and companies continue to put cash into assets like Bitcoin, and institutional investors allocate 5% of their funds to Bitcoin or other cryptocurrencies, we believe the price of Bitcoin will be ten times what it is today, at $500,000 instead of the current $45,000.

This is not the first time Cathie Wood has mentioned this target price. In the annual report "ARK Invest Big Ideas 2021" by Ark Investment Management, analysts quantified the scenario of companies allocating 2.55% to 6.55% of their funds to Bitcoin, resulting in an estimated value of $200,000 to $500,000.

Bullish on Ethereum and NFTs

According to reports, Cathie Wood also expressed confidence in Ethereum, stating that its price has risen significantly during the process of transitioning from Proof of Work (PoW) to Proof of Stake (PoS). When asked about investment advice, she expressed her bullish view by allocating holdings close to Bitcoin:

I would allocate 60% to Bitcoin and 40% to Ether.

Additionally, Cathie Wood mentioned her favoritism towards the NFT platform Async Art:

When I heard Async Art tell its story, I couldn't stop laughing because I think it will bring explosive growth, which is similar to how I felt when the internet was just starting.

However, Cathie Wood stated that she currently does not hold any NFTs.

Coinbase Faces Regulatory Issues

As a prominent institution that is bullish on Coinbase, the host asked about the recent dispute between Coinbase and the SEC regarding the lending product "Lend."

Cathie Wood pointed out that whether it is at the local, state, or federal level, regulatory agencies are in the early stages of "assumption" through negotiations and meetings. The fact is, regulatory agencies do not want to be criticized for hindering the next generation of technology. She also expressed her satisfaction that SEC Chairman Gary Gensler understands crypto assets, especially Bitcoin.

Although she was shocked by the SEC's actions, she explained:

When I saw the news, I was shocked. A Wells notice? Is this a joke? Coinbase hasn't even launched the product yet, but later I thought the SEC's message was more like, "We need to talk; this is developing too quickly."