Cathie Wood, CEO of asset management firm Ark Invest, recently met with El Salvador’s President Nayib Bukele and discussed bitcoin. She praised his progressive approach to economic and educational reforms. “President Bukele’s determination to transform El Salvador into a hub for the bitcoin and AI communities — two of the most significant economic and technological […]
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Ark CEO Cathie Wood Sees Bitcoin as a Hedge Against Currency Devaluations and Rogue Regimes
Ark Invest CEO Cathie Wood sees bitcoin as a hedge against currency devaluations and wealth erosion. “I think this is an insurance policy against rogue regimes or against just horrible fiscal and monetary policies,” she explained, attributing the recent bitcoin price surge to a “flight to safety.” ‘I Think This Is a Flight to Safety’ […]
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Bitcoin Emerges as ‘Flight to Safety’ Asset, Outshining Gold, Says Cathie Wood
ARK Invest’s CEO Cathie Wood believes there is a shift in investment trends, specifically, a growing preference for bitcoin over traditional gold investments. This trend has been particularly pronounced following the launch of spot bitcoin ETFs, offering investors streamlined access to the cryptocurrency.
Cathie Wood Says Investors Are Shifting From Gold to Bitcoin Amid Financial Uncertainty
In a recent video on ARK Invest’s Youtube channel, CEO Cathie Wood said there is a significant shift among investors moving from traditional gold investments to bitcoin. This shift, according to Wood, has become increasingly apparent following the introduction of spot bitcoin exchange-traded funds (ETFs), providing a less cumbersome access to the cryptocurrency.
During a dialogue with Brett Winton, ARK’s chief futurist, Wood pointed to bitcoin’s remarkable resilience and growth, especially in times of financial instability. She recalled the instance of March 2023, when the U.S. faced a regional bank crisis, leading to a 40% surge in bitcoin’s value as the regional bank index plummeted. “Bitcoin shot up 40% as the KRE, the regional bank index, was imploding. And here again, the regional bank index is acting up, and we are seeing Bitcoin catch a bid again,” Wood stated, underscoring bitcoin’s emerging role as a “flight to safety” asset.
Wood shared a compelling chart illustrating bitcoin’s price in gold, showcasing a strong, long-term uptrend. This trend, she explained, signifies bitcoin’s ongoing process of partially replacing gold as a preferred investment choice. “This chart just shows you that even relative to gold, Bitcoin has been rising. There’s now a substitution into Bitcoin, and we think that is going to continue,” she remarked.
Addressing the volatility following the launch of spot bitcoin ETFs, including ARK 21shares Bitcoin ETF on January 11, Wood explained that the subsequent price correction was anticipated. Despite a 20% drop in bitcoin’s price post-launch, Wood remains optimistic, citing that 15 million of the 19.5 million bitcoin currently in circulation have not moved in over 155 days, suggesting a strong holding pattern among investors.
ARK Invest’s strategic movements in the cryptocurrency space extend beyond bitcoin. The firm has significantly invested in Coinbase stock (COIN), although it has scaled back its holdings since June 2023. As of now, ARK holds 7.187 million shares in Coinbase, valued at 3 million, reflecting its continued bullish stance on the crypto sector despite market fluctuations.
Do you agree with Woods that investors who usually would seek gold as an investment are beginning to shift to bitcoin? Share your thoughts and opinions about this subject in the comments section below.
ARK Invest CEO Cathie Wood Believes Bitcoin Will Overtake Gold, Here’s Why
ARK Invest Chief Executive Officer (CEO) and Chief Information Officer (CIO) Cathie Wood, has expressed her optimism about Bitcoin’s capabilities to potentially rise above gold, referring to the cryptocurrency as ‘the digital gold.’
Bitcoin Versus Gold
Appearing in a recent interview on ARK Invest’s official YouTube channel, Wood and ARK Invest’s Chief Futurist, Brett Winton, delved into a lengthy discussion about Bitcoin’s historical and most recent price movements in relation to gold.
Describing Bitcoin as both a “store of value” and a “risk off asset,” Wood emphasized the cryptocurrency’s notable rise, particularly when compared to gold. She shared a chart illustrating a Bitcoin to gold price ratio which revealed a robust and sustained upward trend for Bitcoin. This upward trajectory hints at the possibility of the cryptocurrency overtaking gold as a more valuable investment in the future.
Wood also discussed Bitcoin’s performance amid past economic crises. She highlighted a historical price pattern observed during the regional bank crisis in March 2023, noting that Bitcoin rose as high as 40% while the regional bank index, represented by KRE, was imploding.
Currently, the regional bank index is experiencing a similar crisis, and according to Wood, Bitcoin is following the same pattern by maintaining a steady ascent. She attributes this uptrend to the approval and introduction of 11 Spot Bitcoin ETFs into the cryptocurrency market.
As a result, Wood has categorized Bitcoin as a “flight to safety” investment asset, providing a space for individuals to store their funds against inflation and the effects of the economic crisis.
Spot Bitcoin ETFs Expected To Fuel Bitcoin Surge
After the approval and launch of Spot Bitcoin ETFs on January 10, 2024, Bitcoin faced an unexpected decline, relinquishing a significant portion of the gains accumulated during the pre-approval excitement. The cryptocurrency dropped from a 2023 all-time high of over ,000 to below ,000.
Wood explained that Bitcoin’s descent after the introduction of ETFs resulted from intense anticipatory buying before the launch of ETFs, with a subsequent “sell on the news” event driven by opportunistic traders.
Looking ahead, the ARK Invest CEO anticipates Bitcoin’s continued rise, propelled by the broader accessibility facilitated by Spot Bitcoin ETFs. She highlighted that Spot Bitcoin ETFs offered an easier and more inclusive avenue to access Bitcoin, attracting substantial inflows into the cryptocurrency as institutional investors actively participate in the market.
ARK Invest Pivots To Bitcoin As Cathie Wood Expects BTC Price To Explode
CEO of ARK Invest, Cathie Wood has shared her perspective on the approval timeline for Spot Bitcoin ETFs. She has also highlighted the significant impact the official authorization of Bitcoin ETFs would have on the price of BTC.
BTC Price Boom Predicted Following ETF Acceptance
Founder and CEO of American asset investment management firm, ARK Invest, Catherine Duddy Wood has recently appeared in an interview with Yahoo Finance. The live interview which was published via YouTube centers on Wood’s views and opinions regarding the potential approval of Spot Bitcoin ETFs and its effect on the price of BTC.
According to the ARK Invest CEO, the price of BTC could surge substantially if the United States Securities and Exchange Commission (SEC) approves Spot Bitcoin ETFs for institutional investors.
“What we think is going to happen here is that the SEC is going to be giving BTC, a spot bitcoin ETF, the green light for institutional investors to participate. I think a lot of institutions have been reticent before the SEC approves a spot bitcoin ETF to do very much at all in the crypto asset world,” Wood stated.
She added:
“All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to BTC. That will move the price significantly.”
Bitcoin ETF Approval Expected In January
During the interview, Wood outlined a timeline for the approval of Spot Bitcoin ETFs, predicting the potential approval dates for January.
“We do think it will be in January. Famous last words, don’t want to say we know anything, because we don’t. But it’s just the actions of the SEC that are leading us to that conclusion,” Wood said.
Despite the positive forecast, the ARK Invest founder also stated that if the US SEC remains undecided about Spot Bitcoin ETFs, then a BTC ETF may not be necessary.
“We don’t want a spot bitcoin ETF to get the green light if there are any uncertainties that the SEC may have. So I think we’re answering those uncertainties one by one, each of the filers for a spot bitcoin ETF. And I think the dialogues are very positive. I think the outlook is bright for a spot bitcoin ETF,” Wood stated.
Ark Invest CEO Cathie Wood Expects Spot Bitcoin ETFs to Boost BTC Price ‘Significantly’
Cathie Wood, CEO of Ark Investment Management, foresees widespread institutional involvement in spot bitcoin exchange-traded funds (ETFs) following anticipated approval by the U.S. Securities and Exchange Commission (SEC). “All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to bitcoin,” she explained, adding: “That will move the price significantly.”
Ark Invest CEO Cathie Wood on Spot Bitcoin ETF Approval
The CEO of Ark Investment Management (Ark Invest), Cathie Wood, shared her perspective regarding spot bitcoin exchange-traded funds (ETFs) in an interview with Yahoo Finance on Tuesday. Ark Invest is among the applicants seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin ETF. The deadline for the securities regulator to make a decision on whether to approve or deny Ark’s application is Jan. 10.
Commenting on the SEC’s attitude regarding spot bitcoin ETFs, Wood opined: “Something did change within the last month to six weeks. After being denied several times by the SEC without hearing from anyone at the SEC, we and others we know have gotten questions from the SEC — very thoughtful, detailed, technical questions. That’s a very positive move. And it’s not just one set of questions. It’s follow-up questions. That is really good.”
The Ark Invest executive continued: “Now you ask if the SEC is data-driven. We have had the opportunity, as many others have, to meet a number of the research people within the SEC focused on crypto assets or digital assets.” She added:
We have found them to be extremely thoughtful, extremely knowledgeable and actually a great source of comfort frankly, because … we don’t want a spot bitcoin ETF to get the green light if there are any uncertainties that the SEC may have.
“So I think we’re answering those uncertainties one by one, each of the filers for a spot bitcoin ETF. And I think the dialogues are very positive. I think the outlook is bright for a spot bitcoin ETF.” In addition, Wood expressed that she believes the SEC will approve multiple spot bitcoin ETF applications in January. “We do think it will be in January. Famous last words, don’t want to say we know anything, because we don’t. But it’s just the actions of the SEC that are leading us to that conclusion,” Wood clarified.
The SEC is currently considering 13 spot bitcoin ETF proposals. The regulator met with several issuers many times recently to discuss their applications, including Ark Invest, Blackrock, Fidelity, and Grayscale Investments. The SEC reportedly gave them until the end of this week to file their amendments in order to be considered for the first wave of spot bitcoin ETF decisions.
Impact on Bitcoin’s Price
When asked whether she expects the price of bitcoin to continue to rise after the Jan. 10 deadline as it has been over the recent months, the Ark Invest executive replied:
Well, in the very short term, because of the big move we’ve had and it’s an anticipatory move based on the expectation that a spot bitcoin ETF will be approved — one or more, and it probably is more — so there has been a big anticipatory move.
“Those who have been moving in and enjoying some nice profits will probably, quote unquote, ‘sell on the news.’ That’s an expression that traders use. So you anticipate the event, bid up the price, and then sell on the news,” she explained.
Wood continued: “What we think is going to happen here is that the SEC is going to be giving bitcoin, a spot bitcoin ETF, the green light for institutional investors to participate. I think a lot of institutions have been reticent before the SEC approves a spot bitcoin ETF to do very much at all in the crypto asset world.”
She added: “All we need is for the trillions of dollars in institutional assets out there to allocate maybe 0.1% or 0.2% to an ETF, which will be one of the easiest ways to gain exposure and one of the most efficient ways to gain exposure to bitcoin.” The executive concluded:
That will move the price significantly.
“And just for some perspective here, right now we’re at 19.5 million bitcoin outstanding. The system is mathematically metered to stop at 21 million units. So scarcity value is beginning to have an impact, especially because as we look at long-term holders, those holding and not moving bitcoin for one year. Those are up to 15 million units or 15 million bitcoin,” Wood detailed.
Do you agree with Ark Invest CEO Cathie Wood? Let us know in the comments section below.
Crypto Market Cap To $25 Trillion: Cathie Wood Reveals The 2 Coins To Buy
Cathie Wood, CEO of Ark Invest, has reiterated her bullishness on the crypto industry. In a recent interview with CNBC’s “Squawk Box,” Cathie Wood argued that the crypto industry is poised to reach a trillion valuation, given a regulatory breakthrough in the US. Out of the multitude of digital assets on the market right now, Wood sees two cryptocurrencies driving much of that growth: Bitcoin and Ethereum.
Cathie Wood Predicts Trillion Crypto Ecosystem
The entire crypto industry has witnessed unprecedented growth since the middle of October. According to data from Coingecko, the entire crypto market cap has increased 35% from .096 trillion on October 15th to a current value of .4828 trillion.
However, Cathie Wood is of the notion that this growth isn’t over, and the industry will reach a trillion valuation in the near future. A trillion market cap means the industry would have to grow a whopping 1,585% from its current level.
Cathie Wood had predicted earlier in 2021 that Bitcoin would climb more than 10 times its value in the next five years, back when the asset was still trading around ,000. Given that Bitcoin is now selling at around ,000, the host of Sqwauk Box, Andrew Ross Sorkin, questioned Wood as to whether or not she still stands by her prediction.
“If we have this conversation in ‘25, ‘26, are you on track?” Sorkin asked. “Yes,” Wood replied.
The CEO did mention that this growth would be feasible only if there were a regulatory green light to allow financial institutions to participate in the cryptocurrency market. She also brought up the role that Spot Bitcoin ETFs will play in the projected spike, particularly BlackRock and Coinbase’s plan to offer a spot Bitcoin ETF in the US.
“I think BlackRock and Coinbase’s partnership is going to be very important,” she said.
Bitcoin And Ethereum The Ones To Look Out For
Wood specifically called out two coins to look out for as catalysts for this growth: Bitcoin and Ethereum, the two leading assets. This isn’t surprising, as these two assets have developed better price stability than most over the years.
“Our expectation is that the crypto asset ecosystem will be dominated [by Ether and Bitcoin], and it will scale from a little more than trillion today to trillion in 2030 as this new world develops,” Wood explains.
The ARK Invest CEO has been a long supporter of Bitcoin. In another interview, she said she would prefer to hold Bitcoin for 10 years over cash and gold. The CEO is also no stranger to Bitcoin price predictions, as she has previously said that BTC will go to 0,000 and even reach .48 million in the next seven years.
According to CoinShares’ latest report, investment products tied to digital assets just reached a yearly institutional inflow of .14 billion. The majority of this money (.083 billion) has gone into Bitcoin investment products. This could signal the beginning of large-scale institutional investor participation that Wood believes will propel the crypto market cap to trillion.
ARK Invest is also waiting for the SEC’s green light on its spot Ethereum ETF application. Approval of a Spot Bitcoin ETF by the SEC is expected to propel the crypto market into the next bull run.
Ark Invest CEO Cathie Wood Sees Crypto Market Exploding to $25 Trillion in 2030
Ark Invest CEO Cathie Wood says the crypto ecosystem will be dominated by bitcoin and ether and will scale from about trillion today to trillion in 2030. “The regulatory breakthrough is very important to bring institutions online,” said the asset manager, emphasizing that the partnership between Blackrock, the world’s largest asset manager, and the Nasdaq-listed crypto exchange Coinbase “is going to be very important.”
Cathie Wood’s Crypto Market Outlook: T by 2030
Cathie Wood, the CEO and CIO of Ark Investment Management (Ark Invest), discussed the future outlook for the crypto industry and the potential approval of spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC on Tuesday.
Wood is optimistic about the SEC approving spot bitcoin ETFs, pointing to “significant” changes in the current regulatory landscape compared to a year ago. She mentioned, “The SEC actually asked us questions,” referring to Ark’s spot bitcoin ETF application. Wood noted that Ark’s previous filings were rejected outright without any engagement. She further stated that the securities regulator also engaged with other applicants, such as Blackrock.
The CEO of Ark Invest continued: “The regulatory breakthrough is very important to bring institutions online effectively.” She emphasized, “Blackrock and Coinbase partnership is going to be very important,” referring to the agreement where Blackrock’s Ishares Bitcoin Trust will utilize Coinbase Custody as its custodian. Wood opined:
If you look at both ether and bitcoin, our expectation is the crypto ecosystem will be dominated by those two and that it will scale from a little more than trillion today to trillion in 2030.
Wood and her asset management firm have predicted that the price of bitcoin will hit .48 million. In February, Ark Invest presented three bitcoin price scenarios, projecting a base case of 2,800 by the end of 2030. The bull case envisioned BTC surging to .48 million within the same timeframe. In July, Wood expressed increased confidence in bitcoin’s price reaching .48 million.
The Ark Invest chief investment officer believes that the SEC will approve multiple spot bitcoin ETFs at once. She noted that Ark’s spot bitcoin ETF application has a final deadline of Jan. 10, so the SEC must either approve or deny it. In an interview with Bloomberg on Tuesday, Wood said:
What we think could happen … is by that time, they will approve not just one … because they don’t want to pick winners.
JPMorgan similarly said in September that it expects the SEC to approve multiple spot bitcoin ETFs at once. According to SEC Chairman Gary Gensler, the securities regulator is currently considering between eight and 10 spot bitcoin ETF applications.
What do you think about the prediction by Ark Invest CEO Cathie Wood about spot bitcoin ETFs and the crypto market exploding to trillion in 2030? Let us know in the comments section below.
Why Ark Invest’s Cathie Wood Picks Bitcoin Over Cash And Gold
Ark Invest CEO Cathie Wood was a guest on Merryn Somerset Webb’s show ‘Merryn Talks Money’, where she discussed the macro environment and the recent happenings in the financial world. What will mainly interest the crypto community is what she had to say about the flagship cryptocurrency, Bitcoin.
“Bitcoin Hands Down”
When quizzed by Merryn about which she would prefer to hold for 10 years between gold, cash, and Bitcoin, Wood replied by saying, “Bitcoin hands down.” She noted that while Bitcoin and Gold both have hedging functionalities, the latter already had its time, unlike Bitcoin, which she labeled as “new” and was just gaining steam.
While highlighting Bitcoin’s future potential and “incremental demand,” she stated that institutions were still barely involved and that the major investors of the future (the “young people,” as Wood put it) would prefer to hold Bitcoin over Gold. She also mentioned that Bitcoin has been outperforming Gold recently in terms of its hedging capabilities.
Wood’s bullishness on the foremost cryptocurrency may not come as a surprise to many, considering that her company, ARK Invest, is one of many asset managers who have applied with the US Securities and Exchange Commission (SEC) to offer a Spot Bitcoin ETF.
Interestingly, her company leads the race toward approval as the SEC is expected to make a decision (possibly approve) on their application in January 2024, with decisions on the other applications to come after. However, it remains to be seen if that is what will happen, as the SEC can choose to approve (if it does) all funds at the same time.
Cathie Wood Recognizes Bitcoin’s Importance
Earlier in the interview, Wood highlighted the price of Bitcoin as one of the things her company was monitoring in relation to the financial markets and deciding on how to gauge the inflation rate.
She alluded to how Bitcoin’s price rose from ,000 to ,000 during the regional banking crisis that occurred back in March with a couple of banks like Silicon Valley Bank collapsing.
She described Bitcoin’s rise during that period as “fascinating” and how many saw the cryptocurrency as a “flight to safety vehicle.” While many have in the past touted Bitcoin as a hedge against Inflation, Cathie Wood believes it can go both ways as the cryptocurrency can also serve as a hedge against deflation because there is no counterparty risk in Bitcoin.
She seemed to suggest that Bitcoin was a haven for many, especially with the banking crisis, because it was completely “transparent and decentralized,” unlike banks where customers do not know anything about what goes in there and how their deposits are being used or safeguarded.
Cathie Wood Endorses Bitcoin ‘Hands Down’ Over Gold and Cash, Foresees Deflationary Economy
Cathie Wood, the founder and CEO of Ark Investment Management, has an optimistic outlook on bitcoin’s future and she recently shared her enthusiasm on Bloomberg’s “Merryn Talks Money” podcast. In the conversation, when presented with the choice between gold, cash, or bitcoin as a ten-year investment, Wood confidently declared her preference for bitcoin, saying it would be her pick “hands down.”
Ark Invest CEO’s Contrarian Bet: Bitcoin to Triumph Over Gold as Deflation Hits the U.S.
Last week, Cathie Wood, the CEO and founder of Ark Invest, championed bitcoin (BTC) over traditional assets like cash and gold. Her confidence in bitcoin surfaced during her interview on Bloomberg’s “Merryn Talks Money” podcast. Faced with the query of which asset she’d prefer to keep over a decade, Wood’s choice was unequivocal, “Bitcoin, hands down. Bitcoin is a hedge against both inflation and deflation—so is gold—but bitcoin is digital … gold already has its demand, it’s happened, bitcoin is new.”
A long-standing proponent of bitcoin’s potential, Wood projected in September 2021, just before bitcoin soared to its peak value of ,000, that it could hit a staggering 0,000 within five years. She also shared her anticipation of the metaverse, predicting it to burgeon into a multi-trillion-dollar arena that same year. In the podcast discourse, Wood emphasized the nascent stage of institutional investment in BTC and the generational shift in asset preference, noting:
Institutions are barely involved and young people would much prefer to hold bitcoin than to hold gold.
At Ark Invest, her team anticipates a notable deflationary occurrence on the horizon for the U.S. economy, which is riddled with uncertainties. Wood maintained her stance, asserting that “deflation” is on the economy’s forecast and evidence of such deflation is already emerging. “We think this period of time is much more like the 19-teens than the 1970s,” she said on the podcast. Wood’s viewpoint stands in stark contrast to the common belief that bitcoin is acquired as a shield against inflation.
“I don’t believe that inflation is why it’s going up. There’s no counterparty risk in Bitcoin, it’s a completely transparent, decentralized network you can see everything that’s going on on the network,” she said. You cannot see what’s going on inside regional banks, you can only surmise because they’re losing deposits and they have to fund those by selling securities,” the Ark Invest CEO added. Besides bitcoin (BTC), the CEO of Ark Invest also explored the topic of artificial intelligence (AI) and shared her insights on Tesla.
What do you think about Cathie Wood’s latest insights? Let us know in the comments section below.