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Ark Invest executive director, Cathie Wood, said “The Master Investor” presented by the business journalist Wilfred Frost, who does not believe there will be many long -term cryptocurrencies.
Wood shared his perspective on the sector, emphasizing that Bitcoin will probably dominate over time. He exhibited his opinions about Bitcoin and Ethereum, making it clear why he considers Bitcoin to occupy a higher place.
Why does Cathie Wood only bet on Bitcoin in the digital age?
During the conversation, Wood differentiated what he called “cryptocurrencies” from “cryptoactive” and placed Bitcoin in the center of his vision. He described Bitcoin as a rules -based monetary system, with a supply limit of 21 million units, of which around 20 million are already in circulation. Wood’s trust in Bitcoin is based on his shortage, transparency and consolidated presence in the market.
Said: «Bitcoin dominates the pure cryptocurrency market. Bitcoin is cryptocurrency. We believe it will be the greatest, by far».
He then compared Bitcoin with the stablecoins, which he described as cryptocurrencies linked to the US dollar through guarantees, mainly composed of treasure bonds. According to Wood, the stablecoins have found their place in decentralized finances (defi) by allowing income generation.
Cathie disassembles Tom Lee‘s thesis and explains BTC’s supremacy
When Wilfred Frost mentioned Tom Lee’s vision that Ethereum could overcome Bitcoin, Wood disagreed:
«Bitcoin fulfills three functions. It is undoubtedly the quantitative rule based on rules of the global monetary system. It is also a technology: the layer blockchain has never been hacked. And it is the first of its kind in a new kind of asset. We write our first white paper on this in 2016».
At the same time, he recognized Ethereum’s relevance in Defi, describing him as “the native currency of the defi ecosystem.” He also mentioned how the commissions are migrating to layers two, as a coinbase base and the system planned by Robinhood. He wondered if the increase in these layers will end up competing and returning more power to the main chain.
To close, Wood stressed that Ark Invest maintains investments in both Bitcoin and Ethereum, although he reiterated that his approach remains focused on Bitcoin’s long -term potential.
I say goodbye to this phrase by Paul Tudor Jones: «Bitcoin is a protection of assets against the printing of money from governments. It is the insurance against financial apocalypse».
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