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ARK Investment Management CEO on Bitcoin: 'We Are Extremely Bullish'

www.cryptoglobe.com 30 December 2020 11:10, UTC
Reading time: ~1 m

In a recent interview, Catherine Wood, Founder and CEO at ARK Investment Management, LLC (aka “ARK” or “ARK Invest”), talked about Bitcoin.

Her comments came during an interview on Bloomberg Television on December 18, at a time when Bitcoin was trading around $23,000.

Wood had this to say about her firm’s current level of bullishness on Bitcoin:

We are extremely bullish. Our confidence in it has gone up since 2017 because what we saw as it dropped from $20,000 to below $4,000… was [that] Bitcoin’s share of the cryptoasset ecosystem moved from the low 30% range — in terms of value network values — into the low 70% range, and what did that tell us?

That confirmed in our minds that Bitcoin is the reserve currency of the cryptoasset ecosystem. So it is the reserve cryptocurrency, which is a very important role. It’s the flight to safety currency. Bitcoin’s blockchain is the most secure of any blockchain, and so it makes sense that Bitcoin would be the reserve currency of the cryptoasset ecosystem.

According to data from CryptoCompare, currently (as of 10:55 UTC on December 29), Bitcoin is trading around $26,721, up 0.17% in the past 24-hour period.

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