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Cathie Wood: Bitcoin rally will draw in more institutions

Banks buckle, Bitcoin price is rising.

By Mike Hesp
• 2 min read
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Cathie Wood: Bitcoin rally will draw in more institutions

Banks buckle, Bitcoin price is rising. This is drawing institutional investors to digital asset classes, according to Ark Invest CEO Cathie Wood.

Crypto investor Cathie Wood believes that recent moves in Bitcoin's price will attract more institutional investors. In a View post on X with Bloomberg, Wood is impressed with how Bitcoin's price reacts to the collapse of several banks. The Bitcoin price responded in a very different way than the stock market.

She recommends institutional investors allocate between 2.5 and 6.5 percent of their portfolios to digital assets.

"This is the kind of allocation they would have made to emerging, new asset classes like real estate in the seventies and small caps in the eighties and nineties," said the Ark Invest chief.

The recent collapses of several American banks were followed by a notable spike in Bitcoin's price. At the time of writing, Bitcoin is trading at a rate of US$28,234.

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