ARK Invest CEO Says Bitcoin Is The First Truly Global Cryptocurrency

Cathie Wood, the Chief Executive Officer (CEO) of the global asset management firm Ark Investment Management has become one of those high profile personalities that have acknowledged the worth of Bitcoin (BTC), the largest crypto in the world in terms of market value. She has claimed that the first-ranked cryptocurrency is the first genuinely global cryptocurrency present out there in her recent interview.

Bitcoin Is a Very Big Idea

Cathie Wood has shared his view about Bitcoin in an interview conducted by Yahoo Finance. In the interview, she called Bitcoin the first truly global digital currency. She said that the leading cryptocurrency is completely decentralized, and there is no doubt about it. She said that its market cap is roughly $600 billion, and that is what makes the flagship cryptocurrency stand out for her.

Furthermore, she compared Bitcoin with that of Apple and Amazon, the two top-rated firms in the world. She said that though the market cap of the primary cryptocurrency is half of Apple and Amazon’s market cap, it is still a very big idea than these two even much bigger, she said. Apple (AAPL) is the biggest asset in the world in terms of market capitalization. While on the other hand, Amazon (AMZN) is the fourth-biggest asset in the world by market value, with a market cap of around $1.6 trillion, according to Asset Dash’s data.

While talking about the rising interest of institutional investors in Bitcoin, she said that institutional investors’ entrance into Bitcoin was not a surprising point for them. She said that they already expected this.

However, something surprised Wood, and that was the investment of two famous firms into Bitcoin, the business intelligence firm MicroStrategy and the insurance firm MassMutual’s actions shocked Wood, as she claimed. She especially talked about the action of MicroStrategy and said that they invested around all of their cash into the cryptocurrency, and that surprised her.

Apart from MicroStrategy, MassMutual was another major firm that entered into the world of digital currencies and surprised the cryptocurrency community.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Amazon Currently has No Plans to Accept Bitcoin Payments

Bitcoin mania is on the rise as bullish signals approach; Bitcoin had seen some very hard days, especially in the past few months when Elon Musk and China were cracking at it, and most of the investors lost their faith in the cryptocurrency. Bitcoin stayed closer and then below the $30K price range and was […]

New Monero Bug Violates Users’ Transactions Privacy

Monero is a privacy-focused cryptocurrency and is already getting some traction from the crypto market and investors alike. But it has been infected with the bug named “Monero,” which consistently bewilders the transaction privacy and credibility for users. The whole point of using cryptocurrency for making transactions and the use of blockchain technology is to […]

UK-based News Agency Claims Amazon is Going to Enable Cryptocurrency Payments

Amazon is the fourth-largest company in the world in terms of annual revenue generation. The retail giant was caught by a cloud of rumor mongers who connected Amazon with cryptocurrencies like Bitcoin. The root cause of the rumors was a series of job postings by Amazon that show vacancies for blockchain and digital payment experts. […]

Polkadot (DOT) Targets $17 on a Bullish Set-Up

Briefly – DOT has recovered almost 40% from its weekly lows, targeting $17. DOT’s price tries to prevent the declining wedge. The RSI overpowers a five-month trend-line. Polkadot (DOT) Price Analysis Though Polkadot (DOT) has been here for not that long, it has enjoyed massive adoption by crypto advocates. That is because of the solutions […]

Crypto Market Recovers as Bitcoin’s Price Surges

After witnessing a downfall in the last few months, Bitcoin is once again on the rise. Today marks the third consecutive day that showed Bitcoin price movement improving. In the same period, Bitcoin has improved by 4.11% and added a weight of $1,705 to the price list. At press time, Bitcoin is valued at $34,411 […]