Cathie Wood Stays Bullish On Bitcoin: 'It's The Biggest Of All The Crypto Ideas Out There'
Portfolio Pulse from Murtuza Merchant
Cathie Wood, founder of Ark Invest, remains bullish on Bitcoin despite the recent sell-off, viewing it as a significant investment. In a CNBC interview, she highlighted Bitcoin's importance in creating a global monetary system and its accessibility through an ETF. Wood acknowledged a sell-off post-ETF launch, partly due to FTX selling nearly $1 billion in GBTC. She maintains a positive outlook for Bitcoin's future value, with a high price target set for 2030.
January 24, 2024 | 4:42 pm
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Cathie Wood mentioned a sell-off in GBTC following the launch of a Bitcoin ETF, with FTX selling nearly $1 billion worth. Despite this, Wood remains optimistic about Bitcoin's future.
While the sell-off in GBTC indicates short-term pressure, Cathie Wood's bullish stance on Bitcoin and its long-term potential could stabilize investor sentiment. However, the impact of FTX's sell-off may still influence GBTC's short-term performance.
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