Anvesh Reddy
Cathie Wood Bitcoin: Chief executive officer of Ark Invest, Cathie Wood reiterated her firm belief in the bullish scenario for Bitcoin (BTC) price in the years to come. Wood’s funds purchased BTC worth several millions of dollars in the recent past. It is also common knowledge that she is also an invested in Coinbase shares, affirming her belief in the crypto market and the ecosystem. In a latest comment, Wood said Bitcoin and Ethereum, the top two cryptocurrencies, represent the ideas of decentralization and transparency in the best way.
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Wood’s Base Case and Bull Case For Bitcoin
The Ark CEO reiterated her belief in the potential of cryptocurrencies in her latest statement to CNBC on Wednesday. She said despite the market collapse due to FTX, Celsius and 3AC in 2022, Bitcoin and Ethereum networks were working seamlessly. As opposed to the idea of decentralization and transparency in crypto networks, these companies were highly centralized and opaque in the way they operated, she added.
“After the crypto fallout this year, this idea of transparency and decentralization is taking hold. Bitcoin and Ethereum are the best manifestations of that in the crypto world.”
Also Read: Bitcoin Price Risks Falling to $21,000, US Fed Rate Hike Isn’t The Reason
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
