Ark Invest CEO expressed on CNBC her enthusiasm for Bitcoin and that it is currently perceived as “the money revolution.” Cathie Wood pointed out that Bitcoin acts as “a safe store of value for investors,” despite other cryptocurrencies giving higher short-term returns. Ark Invest CEO on Gary Gensler: He knows Bitcoin very well and has a personal interest in becoming the next Treasury Secretary.
Ark Invest founder and investment manager, Cathie Wood, once again publicly admitted her enthusiasm for Bitcoin, noting that it is perceived as “the money revolution” for most people. Cathie Wood pointed out that Bitcoin is a better option, despite ETH being “faster and cheaper.”
During her participation in the CNBC Squawk Box program, the CEO pointed out that in the short term, Ethereum (ETH) and Solana (SOL) are more profitable, but Bitcoin is “a safe store of value for investors.” She even went on to say that “it’s as good as it looks.”
Cathie Wood: Bitcoin is the True Safe Store of Value
Cathie Wood has shown her enthusiasm for Bitcoin in recent months. In early November, she noted that “BTC is digital gold” and reiterated that she would choose Bitcoin for long-term storage over precious or fiat metals.
On this occasion, Cathie Wood emphasized the following on the CNBC program:
“We believe that Bitcoin will perform better in the long term. But it is a diversified exposure through stocks. We are trying to find the company that will produce the digital wallet. That will be a very important position. Is it Coinbase? Is it the Square with Cash app?”
At some point during the interview, Ark Invest CEO was questioned about the status of the Ark Invest ETF, a topic that served as a pretext to comment on the president of the United States Securities and Exchange Commission (SEC), Gary Gensler, who he said “knows Bitcoin very well” and who would even have a personal interest in becoming Treasury Secretary.
Cathie Wood also commented the following on BlackRock and Larry Fink:
“Bitcoin’s health is about as good as it gets. And it seems that this is a bullish rally. Of course, we will have purchase and sale options. Nothing goes up. But I think there is a flight towards quality. BlackRock CEO Larry Fink used that expression. We call it a flight to safety.”
A digital media reported in September when Ark Invest filed an application for an Ethereum-based Spot ETF. Since its presentation, it emerged that the ARK 21Shares Ethereum ETF (ARKE) would be an exchange-traded fund that issues common shares that are traded on the Cboe BZX Exchange, Inc.
Ark Invest CEO Believes Bitcoin Grows When Stock Market Falls
Ark Invest began its journey into the world of cryptocurrency-based exchange-traded funds in 2021. At that time, it made its first application to launch a Bitcoin spot ETF.
For Cathie Wood, Bitcoin is the only current asset that has proven to be able to overcome local banking crises. In this case, it showed that in periods considered “difficult”, BTC can go from 19,000 to 30,000 dollars. This is what she specified to CNBC:
“If you look at the current bank stock index, we see that it is back down close to where it was in March. Larry could say flee to quality, which is good. It’s true. We would say flee to a safe place because there is no counterparty risk in Bitcoin.”
By Audy Castaneda