Cathie Wood Expects This Red-Hot Cryptocurrency to Soar by 5,600%, but 1 Member of Congress Has Been Dumping His Stake in Crypto

In case you didn’t know, Bitcoin (CRYPTO: BTC) is back. The granddaddy of cryptocurrencies lost more than 70% of its value between November 2021 and November 2022. However, it’s nearly quadrupled since then.

Could Bitcoin keep this momentum going? Ark Invest founder Cathie Wood thinks so. She expects the red-hot cryptocurrency to soar by more than 5,600%. However, not everyone agrees with her — including one active trader on Capitol Hill.

Eleven investment firms won approval earlier in 2024 from the U.S. Securities and Exchange Commission (SEC) to offer spot Bitcoin exchange-traded funds (ETFs). Wood’s Ark Invest was one of them. It now markets several Bitcoin-focused ETFs.

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Source Fool.com