November 14, 2023
In a recent CNBC interview, ARK Invest CEO Cathie Wood expressed her confidence in Bitcoin's current bull market. She highlighted key metrics that confirm the strength of Bitcoin's network and its role as a safe store of value for investors.
Wood emphasized that the health of Bitcoin's network is exceptionally strong, making it an attractive investment option. She compared it to a flight to safety, where investors seek assets with no counter-party risk. Wood cited the example of Bitcoin's price surge during the regional bank crisis, demonstrating its resilience and ability to outperform traditional assets.
While Wood believes that holding Bitcoin itself will deliver higher returns in the long term, she also acknowledged the potential for significant gains in digital asset-related equities. She specifically mentioned companies involved in creating digital wallets, such as Coinbase and Square with Cash App.
In conclusion, Wood's analysis confirms that Bitcoin is currently in a true bull market. The strength of its network and its ability to serve as a safe store of value make it an attractive investment option. While holding Bitcoin directly may offer higher returns, there are also opportunities for substantial gains in digital asset-related equities. Investors should carefully consider their options and conduct due diligence before making any investment decisions.