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Cathie Wood’s latest prediction: Bitcoin could hit $3.8 million

Cathie Wood said at the Bitcoin Investor Day conference held in New York on Friday that in a bullish scenario, the price of Bitcoin could reach $3.8 million, which is more than $2 million higher than her previous prediction. Wood said, "Last year, we predicted that Bitcoin would reach $1.5 million in a bullish scenario. The SEC has given institutions the green light, and although it is indeed reluctant, our analysis shows that over time, if institutional investors allocate slightly more than 5% of their investment portfolios to Bitcoin, as we believe, this alone will increase the forecast I just gave you by $2.3 million."Wood also said she expects the upcoming "halving" to have a similar impact as previous events.

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