Investor Cathie Wood On Bitcoin, Why She Sold Stocks In China, And What Her Firm Is Buying Now [Forbes]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Forbes
Cathie Wood, founder and CEO of Ark Invest, is bullish on Bitcoin and has sold stocks in China.Eli Warren for ForbesCathie Wood, thewildly successful money managerAmerica’s Richest Self-Made Women in August,BITCOINIn September, Wood predicted that the value of Bitcoin would rise to $500,000 in five years. She remains a staunch supporter of Bitcoin, despite some in the crypto world losing their affinity for it. “There’s a sense that the Web3 world is evolving away from Bitcoin and Ether into cheaper, faster” cryptocurrencies, she said. “But they forget that the more features and the more centralization you have … you’re talking about recreating Visa.” That is, recreating an old structure in a new form. Wood said she’d been “hearing that Bitcoin is so yesterday. I think that’s a big mistake. Look at what’s going on in El Salvador.”Calacanis asked in response: “You believe that dictator? You don’t think he’s a bad actor?”Wood replied that they’re “giving $30 in each Chivo account [the d
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