"Bull Queen Reiterates Bitcoin Will Rise Above $500,000, Bullish on Ether

Cathie Wood, CEO of Ark Invest, known as the "Queen of Bulls," reiterated her prediction that bitcoin will soar to $500,000 within five years at a conference on Monday, while bullish on ethereum's upside potential.

Based on the assumption that institutional investors are beginning to allocate to bitcoin and that large companies are choosing to buy it, Cathie Wood continued to reiterate that bitcoin will rise to $500,000. "We believe the price of bitcoin will be ten times what it is today."

She also emphasized that if she could only hold one cryptocurrency, she would choose bitcoin. Recently, the Central American country of El Salvador has legalized bitcoin, while Panama and Ukraine are also trying to do so.