In a recent interview with CNBC on January 23, Cathie Wood, CEO of ARK Invest, shared her perspectives on the future of Tesla, Bitcoin ETFs, and her firm conviction in the potential of the industry-leading cryptocurrency.
Wood began by expressing strong support for Elon Musk, labeling him as a visionary and the standout inventor of our era. In a market where short-term gains are the norm, Wood emphasized the importance of visionary leaders like Musk, considering them essential for making bold investments and capitalizing on significant opportunities.
She endorsed Musk’s initiative to acquire 25% voting control in Tesla to achieve goals related to artificial intelligence, arguing that confronting short-term-oriented shareholders is fundamental for future progress.
Regarding the launch of various SEC-approved BTC ETFs on January 11, Wood addressed the initial speculation about a possible ‘Sell the News’ dynamic. She mentioned the sale of nearly a billion dollars in Grayscale Bitcoin Investment Trust (GBTC) by FTX coinciding with the ETF launch, contributing to market pressure.
Wood asserts that Bitcoin should be a Global Rules-Based Monetary System
Despite fluctuations in BTC’s price and variability in ETF performance, Wood remained steadfast in her belief in the importance of Bitcoin as a global rules-based monetary system. She described BTC as the most crucial cryptocurrency among all, emphasizing her vision that providing more access to it is essential. In this regard, she compared Bitcoin to a “financial superhighway” and a public good, expressing excitement about its future prospects.
Wood’s unwavering faith in Bitcoin is noteworthy. Her support for it does not waver even a centimeter. This becomes relevant in a context where GBTC experienced outflows of billions of dollars, dragging Bitcoin along with it, a trend that has persisted in the two weeks following ETF approval.
As of writing this article, Bitcoin shows signs of recovery, having grown by 3.6% in the last 8 hours and reaching $40,300. A positive signal after its significant drop, during which it lost nearly $10,000, reaching a low of $38,550 per unit yesterday afternoon.
