#PriceSurge cathie Wood Says Odds of $1,500,000 Bitcoin Price Have Gone Up

ARK Invest's Cathie Wood says that the chances of Bitcoin (BTC) eventually hitting $1.5 million are improving for one key reason.

In a new update to investors, Wood says that it's looking more likely that Bitcoin will increase by 1,455% its current value due to increasing adoption by financial institutions.

"Many people know us for our bull case, $1.5

million. And we actually think the odds have gone up that our bull case will be the right number because of what is becoming the institutionalization of this new asset class. So many institutional investors are now looking at Bitcoin and thinking that they need to add it to their asset allocation, because its return profile looks so much different and its risk profile looks so much different from all of the other assets in their portfolios."