Crypto
Cathie Wood calls bitcoin essential asset for portfolio diversification
Ark Investment Management CEO Cathie Wood said bitcoin will play an increasingly important role in institutional investor portfolios and is a valuable diversification tool, citing its low correlation with major asset classes. Ark data show bitcoin’s correlation with stocks, bonds and gold has weakened since 2020. Wood has forecast bitcoin could reach $1.5 million by 2030. Other market participants offered differing allocation views, including recommendations for reduced bitcoin exposure and increased allocations.
