#ElonMusk
#Bitcoin
#CathieWood
#Cryptocurrency
#Blockchain
#DigitalAssets
#ArkInvest
#JamieDimon
In an unexpected interaction on X (previously known as Twitter), CEO of Tesla and SpaceX, Elon Musk expressed his amazement at the burgeoning power of Bitcoin, prompted by a tweet from the CEO of Ark Invest, Cathie Wood. Musk’s simple yet impactful response “Wow” was triggered by Wood’s tweet highlighting the overpowering statistics representing the cryptocurrency’s network, making it the largest computer network in the world, surpassing giants like Amazon, Google, and Microsoft.
Wood’s early comments were backed by Yassine Elmandjra, Director of Digital Assets at ARK, who contradicted the recent skeptical comments made by JPMorgan Chase CEO Jamie Dimon. Despite Dimon’s continuous critique of Bitcoin, dismissing it as a “pet rock”, Elmandjra shed light on the mammoth computational power of the Bitcoin network, illustrating that its performance far outstrips the world’s most powerful supercomputer by a factor of approximately 500. Musk’s awe and support for Bitcoin was evident, drawing parallels with the precious metal, gold, owing to Bitcoin’s carefully engineered scarcity. He even suggested the cryptocurrency should be aptly named “BitGold”. At its current market value, Bitcoin stands at $41,382.
Image: https://weeklyfinancenews.online/wp-content/uploads/2023/11/elonmus.png
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