Bitcoin Could Hit $500,000, the Founder and CEO of Ark Invest Says

[Nobert]

You can see this story again and again in e-commerce (2000), wireless (2001), biometrics (2002), podcasting (2005), digital video broadcasting (2007), cloud computing and e-book readers (2009), 4G (2010), NFC (2011), 3D printing (2012).

The only difference, that there's actual business with millions of workforce behind those industries, while here - thin air & wishful thinking.

Another thing - someone like Trump shows up, 4 years, 8 years, 12 years from now on, and instead of ,,We are going to build the wall'', you might hear - ,,We are going to erase those Mexican cartels from the surface of the earth'' and as they say in Mexico - adios amigos btc.
(and the best part, it could be, or even more likely, someone from democrats)

Besides, its 5x bagger since 2018 lows. During Covi's march lows, there was 4x baggers in 6 weeks with equities, and FBI ain't gonna knock to ones doors at 3 am.

It's over - hyped - garbage. No feelings, just reality.

 

[george_the_second]

Hype is followed by disillusionment, it's not a steady path to mass adoption. So both the optimists and the pessimists tend to be right at some point about every new technology.

 

[deltaf0rce]

Right. She’s about to lose control of her own company but, ok sure. Bitcoin to 500k.

 

[deltaf0rce]

recent regulatory filing suggests that Resolute Investment Managers—ARK funds’ U.S. distributor—plans to take control of the company early next year.

It turns out that when Resolute acquired a minority stake in ARK in 2016, the deal also included an option that allows Resolute to purchase a controlling stake—if it wants—before the option expires in early 2021. ARK, which manages $30 billion in assets, including $15 billion across seven exchange-traded funds, has more than tripled its assets in the past year alone. Now, Resolute is exercising its option to own a bigger piece of the cake.

Cathie Wood, ARK’s founder and CEO who owns 50% to 75% of the firm, is fighting the takeover. In a statement, Wood said she is “disappointed” about Resolute’s “unwelcome notice” of its intention to seize control of the business. “The remarkable success of our team is rooted firmly in a culture of transparency, collaboration, and employee ownership,” she wrote. “We do not believe that equity ownership by a party tangential to our business is in the best interest of ARK’s stakeholders.” Wood didn’t comment beyond the statement.

 

[deltaf0rce]

She sounds like she may not be the sharpest tool in the shed.

 

[Pekelo]

You can see this story again and again in e-commerce (2000), wireless (2001), biometrics (2002), podcasting (2005), digital video broadcasting (2007), cloud computing and e-book readers (2009), 4G (2010), NFC (2011), 3D printing (2012).

Those products get cheaper and cheaper while getting better features over time. Unlike Bitcoin. Cryptos do get better features, but that doesn't translate to jumping into the top of the most invested crypto.

 

[ZBZB]

Kathy Wood will leave ark taking all the employees with her.

 

[Cuddles]

By far the worst thing about the Everything Bubble is that carnival-barker blowhards like Cathy Wood (and dare I say Elon Musk?) have become fabulously rich and famous, and we have to listen to everyone else spout off about what geniuses they are.

Capitalism and markets once had a sort of built-in mechanism for dealing justice, insofar as the tide eventually went out. If LTCM, Enron, Worldcom, Lehman etc had been operating post-2008, they never would have failed.

The cult following makes one wonder if one should ride the fad rally. Felt rough missing Tesla from 200$

 

[ET180]

Cryptos do get better features, but that doesn't translate to jumping into the top of the most invested crypto.

What's interesting to me is that with the Bitcoin rally, I would have expected to see all other Crypto currencies die off in a sign that the market has accepted a winner of the crypto war and the emergence of a standard. But that has not been the case. According to CoinDesk, Ehterium (ETH) was 107.90 on March 16 of this year and is now 541.82. That's a 5x increase. Bitcoin bottomed at 4944.70 on the same day. (Although if you go over to TradingView, it shows an intraday low on Bitcoin of 3770 on March 13, a few days earlier.) Anyhow, using CoinDesk's EOD numbers for both. Bitcoin is currently 18753.37. So that's an increase of 3.79x. Etherium actually gained more during the recovery than Bitcoin. Ripple went from 0.1386 back in March to 0.404883 currently or a 2.92x increase. However, the value of it just about doubled in the past two weeks as Bitcoin went parabolic. Same case with Litecoin and other cryptos. Although Bitcoin has gained the most in terms of market cap, it's not coming at the expense of the other currencies. Actually, many smaller cryptos are outpacing Bitcoin recently. They all seem to be ramping together and this does not indicate that the market is settling on Bitcoin as the clear winner despite the fact that it's more widely supported in terms of ways to purchase and trade it. I find that interesting.

 

[Specterx]

The cult following makes one wonder if one should ride the fad rally. Felt rough missing Tesla from 200$

Well, as a trader you have to be agnostic - long what's going up and short what's going down. I keep thinking that Fed policies will ultimately destroy markets, but 2020 has been an astounding year for big trends and moves. Got to make hay while the sun shines as retail trading might not be viable for much longer, between ZIRP euthanising vol and taxes/FTTs killing profitability.