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Cathie Wood on Bitcoin’s Superiority
In a recent interview, prominent investor and cryptocurrency champion Cathie Wood described Bitcoin (CRYPTO: BTC) as the “pure cryptocurrency,” emphasizing its lasting advantage over Ethereum (CRYPTO: ETH).
Bitcoin’s Dominance in the Market
During her conversation with Wilfred Frost on The Master Investors podcast, the CEO of Ark Invest expressed her belief that Bitcoin would emerge as the leading cryptocurrency. She explained, “Bitcoin owns the cryptocurrency space when it comes to pure crypto,” describing it as a monetary system governed by the quantity theory of money.
Key Advantages of Bitcoin
Wood pointed out that Bitcoin’s fixed supply of 21 million units is one of its most significant strengths. She noted that while Ethereum has a vital role in decentralized finance, it is eventually facing intensified competition from Layer-2 blockchains.
Debate Over Market Prospects
When discussing Wall Street analyst Tom Lee’s more optimistic predictions for Ethereum, Wood remarked, “We would differ.” She insisted that Bitcoin is also a layer one blockchain technology that has never been subjected to hacking, a claim that other blockchains cannot make.
Mutual Respect in the Crypto Community
In response, Lee lauded Wood as the “GOAT” (Greatest of All Time) in the cryptocurrency realm, acknowledging her ability to foresee the growth of both Bitcoin and Ethereum. This discourse arrives as Ethereum’s potential is garnering considerable attention in the market.
Investment Activities by Ark Invest
It should also be noted that Wood’s Ark Invest has made substantial investments in Bitmine, holding shares valued at $321.65 million across multiple funds, including the ARK Innovation ETF (BATS: ARKK), Ark Fintech Innovation ETF (BATS: ARKF), and ARK Next Generation Internet ETF (BATS: ARKW).
