Cathie Wood: The Days of Big Crashes in Bitcoin Are Over

The cryptocurrency market has been notoriously volatile, but according to one prominent investor, the days of catastrophic collapses might be behind the crypto world. Cathie Wood, known for her flagship ARK Innovation ETF, believes that Bitcoin (CRYPTO: $BTC) has matured significantly.

In a recent interview, Wood affirmed that the flagship cryptocurrency is now a “proven technology” and a “proven monetary system.” She noted that growing institutional demand and broader adoption have transformed it into a more stable asset class. Because of this institutionalization, Wood claims that the 85% to 95% collapses historically associated with new technologies are finally done.

Bitcoin is down 11% this year but has been rallying of late and is around $78,000. While it is nowhere near the highs of more than $126,000 that it hit last year, it’s been showing signs of stability recently and hasn’t been in the free fall that it might have been in the past. Wood suggests it could be a “real victory” for the community, marking a significant improvement over previous bear markets. She maintains her bold prediction that the digital coin will reach $1.2 million by 2030, serving as a global settlement system.

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As more institutions add the leading cryptocurrency to their portfolios, the greater the demand will be, pushing its value higher in the process. With more timid swings and more acceptance of the cryptocurrency, the less risk there will be of another massive crash in the crypto markets. While it’s still volatile, Bitcoin certainly appears to be a much safer investment than it was several years ago.