Cathie Wood, the 'believer' who predicted $1.5M per bitcoin, has lost billions
Cathie Wood, the ‘believer’ who predicted $1.5M per bitcoin, has lost billions It’s been a rough few years for Cathie Wood. Once a thought leader and Bitcoin visionary who reached dizzying heights via her ARK Invest funds, she’s now tallying losses that reach well into 11 figures. On May 27, 2021, Wood was at her peak of fame. Her starry-eyed projections of futuristic AI, healthcare, crypto, and automation technologies earned her a spot on the cover of Bloomberg’s Businessweek magazine. According to the editors of the double issue with a print circulation of 325,000, she was the “The Believer” who was selling “a future so fantastic you’ll beg her to take your money.” However, since 2021, when she predicted that bitcoin (BTC) would rally to $1 million within nine years, shares of Wood’s flagship ARK Innovation ETF (ARKK) have lost 59% of their value. As she lost money, she raised her BTC forecast to $1.5 million , but her BTC investments f...
