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Cathie Wood: Bitcoin's Crucial Role in Our Investment Landscape

Twitter icon  •  Published il y a 3 mois  •  Nikolas Sargeant

In a recent CNBC interview, Cathie Wood, ARK Invest CEO, asserted Bitcoin's paramount importance as an investment. Wood countered criticisms, emphasizing its robust security and network dominance, surpassing major tech giants.

Wood addressed concerns raised by figures like Jim Cramer, Jamie Dimon, and Peter Schiff, asserting Bitcoin's intrinsic value. She highlighted the cryptocurrency's security, noting its network outpaces the combined cloud size of Amazon, Google, and Microsoft.

The strategic moves by Ark Invest under Wood's guidance include liquidating ProShares Bitcoin Strategy ETF shares and acquiring Ark 21Shares Bitcoin ETF units. This reallocation aligns with the plan to increase holdings in the spot Bitcoin ETF.

Wood's comments were prompted by Yassine Elmandjra's post on Bitcoin's hash rate achievement, surpassing even the world's most powerful supercomputer. Wood anticipates significant price surges as institutions adopt Bitcoin, envisioning a path to a million-dollar token.

In the current $40,000 to $43,000 range, Wood foresees reaching milestones with institutions allocating 2% to 5% of Bitcoin in their portfolios. This strategic move could pave the way for Bitcoin's effortless ascent.

 

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.