Discover ARK Invest’s Bitcoin Bet: Cathie Wood’s Story
The post Discover ARK Invest’s Bitcoin Bet: Cathie Wood’s Story appeared on BitcoinEthereumNews.com.
– Advertisement – Cathie Wood, the founder and CEO of investment management firm ARK Investment, referred to Bitcoin as digital gold, emphasizing her trust in it. Wood’s $1.2 billion ARK Next Generation Internet ETF bought Grayscale Bitcoin Trust (GBTC) when it was trading at a discount of around 40%. Cathie Wood also expressed that the opportunities and impacts that technologies carry for every industry will shape the overall economic landscape of the industry and enhance the financial position of growing industries worldwide. Cathie Wood, founder and CEO of ARK Invest, reiterates her support for Bitcoin in a recent interview and details the reason she trusts Bitcoin. Cathie Wood Reiterates Her Support for Bitcoin American investor Cathie Wood, the founder and CEO of ARK Investment, referred to Bitcoin as a cryptocurrency and categorized it as digital gold. In a recent interview, Wood stated her preference for owning Bitcoin for the future, saying, ‘I prefer Bitcoin to having a piece of gold or cash.’ On November 3, the owner of ARK Investment forecasted a period where prices were expected to decline, relying on new technologies such as artificial intelligence, electric vehicles, robotics, genome sequencing, and blockchain. In an interview with Bloomberg, she was asked about her preferences for holding an asset over ten years. She promptly responded, ‘Bitcoin, of course.’ She referred to the cryptocurrency as ‘digital gold’ and mentioned that there is no inflation or deflation in Bitcoin, and there is no counterparty risk due to the zero intervention by institutions. It’s important to note that Cathie Wood stands to benefit if the SEC approves a Bitcoin spot ETF. The company ARK Investment, along with 21 Shares, applied for a Bitcoin ETF and invested in Grayscale Bitcoin Trust. Interestingly, Wood’s $1.2 billion ARK Next Generation Internet ETF bought Grayscale Bitcoin Trust…
Filed under: News - @ November 5, 2023 12:00 am