Bitcoin Price Prediction: Ark Invest's 'Base Case' is BTC at $650,000

• Cathie Wood, CEO of Ark Invest, believes that "something has changed" at the SEC regarding the firm's spot Bitcoin ETF application.
• Wood is optimistic about Bitcoin's price, with a base case of $600K - $650K and a bull case based on scarcity and institutional investor interest.
• The SEC has started asking questions about Ark Invest's Bitcoin ETF filing, a departure from outright rejections in the past.
• Wood is a long-time Bitcoin bull and has held $100,000 worth of Bitcoin since around 2015, which has now grown to over $14 million in unrealized profits.

The sentiment in the article is generally positive, with Cathie Wood expressing optimism about the SEC's changing stance on Bitcoin ETFs and her bullish outlook on Bitcoin's price.