Cathie Wood Calls Bitcoin a 'Financial Highway,' Reaffirms $1.5 Million Price Goal

Ark Invest CEO Cathie Wood called Bitcoin (BTC) a "financial highway" at Friday's Bitcoin Investor Day conference in New York, emphasizing the cryptocurrency's important use case in emerging markets and reiterating her previous price target of $1.5 million. Wood said the asset management firm focuses on emerging markets and the global macro environment, and she said of countries like Nigeria, which is one of the biggest adopters of Bitcoin due to a significant devaluation of the country's currency, "There are indications that not everything in the world is 'okay' Wood therefore views Bitcoin as a safe-haven and a risky asset."