Ark Investment ManagementCEOCathie WooddefendedBitcoinBTC/USD andEthereumETH/USD , saying the two major cryptocurrencies "didn't skip a beat" despite the collapse of centralized entities such as FTX and Celsius.
What Happened: In an interview with CNBCon Monday, Wood expressed her confidence that decentralized and transparent blockchains like Bitcoin and Ethereum are "on the right track.
.@ARKInvest CEO @CathieDWood tells @carlquintanilla and @SaraEisen that she is confident that decentralized and transparent blockchains like #Bitcoin and #Ethereum are “on the right track.” $BTC $ETH pic.twitter.com/daDQIc2UzT Squawk on the Street (@SquawkStreet) February 27, 2023
FTX, Celsius and3AC are completely opaque and centralized. Those were the companies that went under but blockchains like BTC and Ether didnt skip a beat and transactions did not stop. And that has given us a lot of confidence, she said.
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Wood's Ark Invest on Feb.1 released its seventh edition of the Big Ideas 2023, which suggested that BTC is on a trajectory that could see it become a multi-trillion dollar market in the coming years.
According to Ark research, the price of Bitcoin could exceed $1 million by 2030, a target Wood has predicted time and again.
Price Action: At the time of writing, Bitcoin wastrading at $23,457, down 0.47% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin, Ethereum, Dogecoin Fall Amid Regulatory Jitters: Analyst Says 'Things Could Get Ugly Again' If Apex Crypto Rejects $23K
(Illustration: Gonzalo Lanzilotta on Benzinga)
