Ark Invest's Cathie Wood says institutions moving into bitcoin could add $500,000 to its price

CNBC's 'Squawk Box' team sit down with Cathie Wood, CEO and CIO of Ark Invest, to discuss Ark's latest transparency fund. Wood also breaks down why bitcoin's value could go up by $500,000 over time as hedge funds and other large investors move in. "The move actually by institutions into bitcoin, if we were to choose bitcoin and that seems to be their first stop, could add $500,000 to bitcoin's price if they move into the tune of roughly 5% over time," Wood tells CNBC.