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Bitcoin has been swinging between steep increases and short-lived retreats over the past few weeks. After it fell to $76,273, it went up to $104,974. Although it came close to that high bar, it couldn’t sustain itself and traded at $104,920 following a 0.50% decline during the past 24 hours. However, long-term forecasts by Ark Invest indicate massive moves might be looming ahead. Cathie Wood, CEO of Ark Invest, made her prediction in an interview with CNBC and presented a long-term view. The firm’s base scenario predicts Bitcoin at $700,000 to $750,000 by the end of the decade. Under an aggressive scenario, it goes all the way to $1.5 million. These forecasts were made by David Puell, who is the market analyst at Ark Invest. Wood pointed out how investor sentiment is slowly shifting. She opines that more and more people see Bitcoin as a safe repository of funds. That potentially makes it a challenger to gold in that role. Institutional involvement is in its nascent stages now, she said but is poised to be a potent growth driver. Ark Invest has backed its forecast with active investing. With its ARK 21Shares Bitcoin ETF, it has invested an additional $58 million in Bitcoin. Wood emphasized that institutional investing is still just starting out as he asserted that “Institutions are just testing the waters.” Should they increase their participation, it might drive Bitcoin significantly higher in the years to come. From a security perspective, Wood also referred to Bitcoin’s capacity to protect its holders against unjust seizure of wealth. This, she said, could be achieved either through inflation or confiscation at a state level. Because Bitcoin’s supply is constant and not regulated by central banks, it possesses stability that traditional currencies do not have. In the case of deflationary times, Wood further added that Bitcoin also has an advantage: transparency. In her view, this characteristic could prevent the kind of trust-based collapse that occurred in 2008 during the financial crisis. We won’t have an 08-09 with Bitcoin, everything is decentralized, no obfuscation, In spite of recent volatility in markets, Bitcoin would need to increase significantly in its long-term estimates according to Ark’s targets. Presently, the asset is 57% up year-to-date. After that, the base-case target figure of $710,000 would need a 575% jump. In a bear case scenario, Bitcoin would have to increase by 1,330% to $1.5 million. Even more bearish is a more conservative estimate that anticipates growth of about 185% to $300,000. Wood’s optimism about these prices is based on both Bitcoin’s finite nature and its growth as an alternative store of wealth.

JUST IN: ARK INVEST FUND MANAGER BOUGHT $155.3 WORTH OF #BITCOIN ETF

ARK Invest increased its holdings of Coinbase and Bitcoin ETF in the first quarter and reduced its holdings of Tesla In the first quarter, the total market value of the holdings of ARK, the Ark Investment Fund led by "Cathay Wood", was US$9.99 billion, and the top ten holdings accounted for 48.49% of the total market value. "Cathay Wood's" holding strategy in the first quarter showed an active layout in the fields of emerging technologies and biotechnology, while adjusting and optimizing some holdings. In the first quarter, ARK increased its holdings in AI (Palantir, UiPath), blockchain (Coinbase, Bitcoin ETF), and biotechnology (CRISPR, Teladoc), and reduced its holdings in Tesla (intensified competition) and Zoom (slowing growth). Although Tesla is still the largest holding, accounting for 8.45% of the portfolio, the size of holdings decreased slightly by 0.87% in the first quarter, which is the third consecutive quarter that Tesla has been reduced. (Jinshi)

Bitcoin spot ETFs had a total net inflow of $115 million yesterday, with only BlackRock ETF IBIT achieving net inflow According to SoSoValue data, yesterday (May 15, Eastern Time), the total net inflow of Bitcoin spot ETFs was $115 million. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was Blackrock's ETF IBIT, with a net inflow of $410 million in a single day. Currently, IBIT's total net inflow in history has reached $45.423 billion. The Bitcoin spot ETF with the largest net outflow in a single day yesterday was Ark Invest and 21Shares' ETF ARKB, with a net outflow of $132 million in a single day. Currently, ARKB's total net inflow in history has reached $2.567 billion. As of press time, the total net asset value of Bitcoin spot ETFs was $121.469 billion, the ETF net asset ratio (market value to the total market value of Bitcoin) reached 5.91%, and the historical cumulative net inflow has reached $41.514 billion.

U.S. spot Bitcoin ETFs saw $115.7M worth of total net inflows on May 15 U.S. spot Bitcoin $BTC ETFs recorded a combined net inflow of $115.7 million on May 15, according to Trader T (@thepfund) on X. BlackRock’s IBIT led the inflows with $410.47 million, while ARK Invest’s ARKB,