Bitcoin

Cathie Wood Still Has A Positive View Of Bitcoin After The FTX Crisis

Ark Invest CEO Cathie Wood, a Bitcoin maxism, has always had a positive view of the coin despite the recent FTX-induced crisis.

Cathie Wood recently tweeted in reaction to a monthly report produced by Ark Invest that Bitcoin didn’t miss a beat throughout a recent crisis, applauding the main cryptocurrency’s resiliency.

She also claims that former FTX CEO Sam Bankman-Fried disliked Bitcoin because it is “transparent” and “decentralized,” implying that “he couldn’t control it.”

According to Ark Invest, the number of active Bitcoin owners increased by more than 18% last month, the highest positive percentage growth since early 2021.

Despite the FTX-induced market turbulence, the company’s supply held by long-term holders remains constant.

Cathie Wood seems to be one of the few who have believed in Bitcoin for so long. She has been investing in Bitcoin since its early days when its price was only trading around $250.

Don’t know if her prediction is correct, but considering the current market landscape, it is hard to see the momentum for the coin to return to its peak of $69,000 last year. At the time of writing, BTC is trading at $17,174.

BTC daily chart. Source: Coincu

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.