- In the recent interview with Peter McCormack’s “What Bitcoin Did” Cathie Wood shared about her holding in Bitcoin.
- Wood shared that she bought $100,000 worth of Bitcoin in 2015 that is currently worth around $7.6 Million.
Cathie Wood, the Founder, CEO and CIO of ARK Invest recently discussed about the investments in disruptive technologies, the importance of research for investment, deflationary signals, FED’s uncertain decisions and the bullish forecast of ARK Invest for the most-traded cryptocurrency, Bitcoin, on October 21, 2022.
Cathie Wood’s Podcast Highlight
In the YouTube Podcast, “What Bitcoin Did,” Cathie Wood appeared with the host, Peter McCormack. She seems quite confident over her saying as she added that “My background is both economics and finance. So I feel very confident in what I’m saying: this is the first global private, meaning no government oversight, digital rules-based monetary system. When I’m explaining it like that I ask everyone to listen to each of those words, each one of them is very important. This is one of the most profound innovations of our time.”
According to the recent podcast, Cathie Wood’s ARK Invest became the first public fund manager to invest in Bitcoin in 2015. The business strategy of Wood is to get into the details of the markets they are interested in.
ARK Invest followed a bullish outlook for Bitcoin’s valuation in the starting of this year by doubling down on their forecast a couple of weeks ago as the firm is expecting a $1 Million per coin valuation in the upcoming years.
Earlier this month in an interview with Bloomberg, Cathie Wood’s ARK Invest mentioned Bitcoin is in “an arms race” against traditional finance and asset classes. Moreover, the firm looks confident of bitcoin’s ability to be at the heart of a revolution in money that had its multiple use-cases.
ARK Invest’s Bitcoin Monthly Report
The Bitcoin Monthly: September Report is authored by ARK’s CEO Cathie Wood, Analyst Yassine Elmandjra, Research Associate David Puell, Director of Research – Next Generation Internet Frank Downing, and Reflexivity Research Co-Founder Will Clemente.
The earnings report details relevant on-chain activity and demonstrates the openness, transparency, and accessibility of blockchain data. The following report includes the Bitcoin Market Summary, On-Chain Fundamentals: Bitcoin remains Oversold, and Macroeconomics: Uncertainty Continues to Weigh on Bitcoin’s Outlook.
The On-Chain activity of Bitcoin shows that the token continued to find resistance at its 200-week moving average ($23,500) and support over its investor cost basis ($19,000.) The holding behaviour and network fundamentals are much stronger than its current price would suggest. Also, an uncertain macro environment continues to weigh heavily on risk assets including cryptocurrencies.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/10/26/cathie-wood-seems-bullish-for-bitcoin-as-an-investment/