HomeCryptoBitcoinCathie Wood "very positive" on Bitcoin

Cathie Wood “very positive” on Bitcoin

The founder, CEO and CIO of ARK Investment Management, Cathie Wood, recently said she was “very positive” about bitcoin.

Wood was interviewed by Bloomberg Radio, specifically about the news that Square has invested another $170 million in bitcoin, buying it at an average price of over $51,000. 

She explicitly stated that they are again very positive about bitcoin, and that they are happy to have seen a healthy price correction yesterday. 

Ark Invest is an asset management firm founded in 2014 in New York, and now manages assets of around $50 billion. 

Cathie Wood is an economist and financial analyst who previously worked for Capital Group, Jennison Associates and AllianceBernstein.

In December 2020 Ark Innovation became the largest actively managed ETF, with $17 billion in assets under management and a 170% return, so much so that in January 2021 Bloomberg then reported that Ark Invest had become one of the top 10 issuers in the $5.5 trillion exchange-traded fund industry. 

The company’s investment strategy focuses on innovative technologies, and the companies that apply them. These technologies include artificial intelligence, DNA sequencing, gene editing, robotics, electric vehicles, energy storage, 3D printing, fintech, and of course blockchain. 

Taking Cathie Wood’s words on Bitcoin seriously

Ark is also known to invest in cryptocurrencies

From 2014 to 2021, their flagship product, ARK Innovation ETF, averaged a return on investment of 39% per year, more than three times the average return of the S&P 500 index. 

In addition, its Next Generation Internet ETF (ARKW) includes the Grayscale Bitcoin Trust, as well as Square and Tesla shares, which are also included in the Fintech Innovation ETF (ARK), featuring PayPal shares. 

The company also publishes analyses, conducted not only by financial analysts, but also by scientists and computer scientists, to better assess the impact of innovative technologies.

So while Cathie Wood’s words on Bitcoin are certainly not disinterested, they come from a source adept at analyzing the crypto market in a professional manner, and focusing on investments that actually seem to be able to produce good returns.

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".