From Dow Jones & Company:

Cathie Wood’s ARK Investment Management predicts that bitcoin prices could reach $2.3 million with a 19.4% allocation from the $250 trillion global investable asset base, according to its latest annual research report.

ARK, one of the firms recently launching spot bitcoin ETFs, also manages the ARK 21Shares Bitcoin ETF, which holds $665 million in assets and was up 0.8% on Friday morning.

The volatile nature of bitcoin prices raises concerns about potential losses from even a small exposure to the cryptocurrency. On Friday morning, bitcoin prices were trading around $43,177.



Read more: What’s behind Cathie Wood’s ARK estimate for bitcoin to surge to $2.3 million