Cathie Wood Says: ‘Bitcoin Is Still in the Early Innings’ as BTC Crosses 100k

• Bitcoin surpassed $100,000, with Cathie Wooden predicting progress similar to gold.
• Bitcoin now surpasses the worth of silver, sparking hypothesis about difficult the $18 trillion gold market.

With Donald Trump’s victory, Bitcoin [BTC] has handed the anticipated $100,000 mark and reached $102,750 on December 5, pushing the market cap to $2 trillion.

Cathie Wooden’s tackle BTC’s $100,000 enhance

This milestone has fueled optimism within the crypto area. Cathie Wooden, CEO of ARK Make investments, predicts even higher progress for BTC.

Curiously, this enhance coincided with Trump’s appointment of Paul Atkins as the brand new chairman of the SEC. Atkins is a distinguished crypto supporter. This alerts a shift in the direction of a extra favorable regulatory surroundings for cryptocurrencies.

Making the identical touch upon this, Wood went to X (previously Twitter) and commented:

“Nice day for #bitcoin and digital property rights! Incoming SEC Chairman Paul Atkins will free digital property from Gary Gensler’s stranglehold and defend personal property rights within the digital world.”

Powell and Wooden on Bitcoin vs. Gold

Moreover, Fed Chairman Jerome Powell’s feedback on the DealBook Summit obtained loads of consideration.

Powell famous that Bitcoin is more and more seen as a retailer of worth, just like gold, moderately than a standard forex just like the US greenback.

As anticipated, his feedback highlighted BTC’s altering position within the monetary world, with a rising recognition of its long-term worth as a digital asset, moderately than as a forex for on a regular basis transactions.

Wooden commented on this:

“Right this moment, Fed Chairman Powell described bitcoin as a digital, digital model of gold. At $2,700, gold is a ~$15 trillion market, in comparison with bitcoin at simply ~$2 trillion. Even after breaking $100,000, Bitcoin continues to be within the early innings.”

What’s subsequent for Bitcoin?

Subsequently, regardless of the current dip, BTC was buying and selling at $98,308.23 on the time of writing, after dropping 4.24% previously 24 hours in keeping with CoinMarketCapthe joy surrounding the cryptocurrency stays unchanged.

As Cathie Wooden, CEO of ARK Make investments, aptly put it:

“Certainly, @ARKInvest believes bitcoin is a a lot larger concept than gold!”

Bitcoin has now surpassed silver, with a market worth of $1.75 trillion. This makes it the eighth Most worthy asset worldwide.

This milestone raises questions on the way forward for BTC. Will it proceed its upward trajectory to problem gold? The market capitalization of gold is nearly $18 trillion.