#CathieWood #Bitcoin #CryptoInvestment #ARKInvest #BitcoinETF #CryptoSecurity #CryptoAssets #CryptoNetwork
Renowned ARK Invest CEO, Cathie Wood, has recently broadcasted her perspective on Bitcoin, emphasizing its significance as one of the most paramount investments of our era. It’s crucial to note that Wood has been actively pioneering the management of a spot Bitcoin ETF in sync with 21Shares under the banner of ARK Invest.
Participating in a discussion with CNBC, Cathie Wood underlined Bitcoin’s substantial security framework, supported by the world’s most extensive computer network. Notwithstanding criticism from industry bigwigs like CNBC’s Jim Cramer, JPMorgan CEO Jamie Dimon, and Peter Schiff, Wood’s recent assertions have constructively responded to their viewpoints. By highlighting Bitcoin’s inbuilt value and superior security level, Wood demonstrated Bitcoin’s network’s expanse, surpassing the sum total of the cloud spaces designed by technological savants like Amazon, Google, and Microsoft over the last two decades.
Cathie Wood demonstrated her strategy of reallocation through the transactions made on January 23, under ARK Invest. Approximately 586,000 shares of ProShares Bitcoin Strategy ETF (BITO) were liquidated, leading to a gain of around $12 million. These proceedings were subsequently utilized in purchasing around 361,000 units of Ark 21Shares Bitcoin ETF (ARKB), valued at $14.5 million. In sync with the plan of amplifying Ark 21Shares spot Bitcoin ETF holdings, further strategic allocations involved eliminating ProShares Bitcoin Strategy ETF from the ARK Next Generation Internet ETF (ARKW).
Wood’s observations were in response to an illustrative post from Yassine Elmandjra, Ark Invest’s Director of Digital Assets. The post lauded the impressive feat of Bitcoin’s hashrate reaching an astonishing 500 exahashes/s. The data presented confirmed BTC’s superior performance over the world’s most potent supercomputer by 500 times in terms of raw operations per second.
Wood expects a hefty price surge, buoying on the predicted growing adoption of Bitcoin by institutional bodies leading to marked value enhancement. Wood also envisages an easy climb to the million-dollar mark, with institutions earmarking from 2% to 5% of Bitcoin in their asset portfolios. This future growth in institutional investment is inevitably set to escalate Bitcoin’s prevailing position in the $40,000 to $43,000 range.
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