Cathie Wood: ‘The convergence of Bitcoin and AI is changing the way companies are organised’

Investment rock star Cathie Wood argues that the convergence of bitcoin and artificial intelligence (AI) will transform the way businesses are organised, with positive implications for the economy. 

Cathie Wood and her optimism about the convergence of bitcoin and AI

Cathie Wood, CEO of Ark Invest, shares her views on bitcoin and artificial intelligence (AI).

According to the investment rock star, the convergence of BTC and AI would cause costs to plummet and productivity to explode. 

In general, Wood argues that there is transformative potential if the two technologies could intersect, highlighting the positive impact it would have on various sectors and the overall economic landscape. 

In addition to bitcoin, Wood is already involved in the world of artificial intelligence, apparently through her investments, showing her support and belief in the technology. 

Cathie Wood and her support of bitcoin and AI

Behind the words of the CEO of Ark Invest, there is also a research paper published by the investment firm entitled:

“Investing In Artificial Intelligence: Where will equity value emerge?”

Not only that, but Wood has also invested in several AI-related stocks, such as the ARK Disruptive Innovation ETF (ARKK), which has outperformed the NASDAQ 100 Index (QQQ), posting a significant 41.2% gain at mid-year.

When it comes to bitcoin, ARK Invest’s CEO is known for his enthusiasm and support. His continued presence with substantial stakes in crypto companies such as Coinbase and Robinhood is testament to this. 

Wood’s last purchase on Coinbase was in June 2023, when Ark Invest had a total stake of 11.44 million COIN shares. 

The following month, however, ARK reduced its stake in Coinbase, selling COIN for $12 million after COIN experienced a +16% pump. 

Bitcoin spot ETF predictions

Recently, Cathie Wood also commented on the applications to issue bitcoin spot ETFs, which are still awaiting a verdict from the US Securities and Exchange Commission (SEC). 

The Ark Invest CEO is reported to have said that if the SEC is inclined to approve the applications, it could do so all at once. 

At the moment, the favourite bitcoin spot ETF application seems to be that of BlackRock, the financial giant whose application was only made official by the SEC last July 2023.