Cathie Wood, founder and CEO of Ark Invest, is a company focused on emerging technologies and managing $35 billion in assets, offering a clear and compelling view on the cryptocurrency market. On the Wilfred Frost hosted “The Master Investor Podcast,” Wood detailed why he believes Bitcoin is always the number one cryptocurrency.
According to Wood, there are not many cryptocurrencies in the market. Bitcoin already owns “pure crypto” space.
Famous investors believe that Bitcoin is always much larger than all other competitors.
Wood explains the main features that make Bitcoin a great “rule-based currency system.”
“Bitcoin is a monetary system and is based on rules. The rule is the theory of money. It stops at 21 million units. It’s currently around 20 million units. That’s the theory of quantity.”
Counting the predictions of some analysts like Tom Lee, when Ethereum (ETH) surpasses Bitcoin’s market capitalization, Wood argues that Bitcoin will always be ahead of its three key roles.
- Global Currency System: acts as a rule-based global currency system.
- Layer 1 Blockchain Technology: The safest blockchain technology known for being never hacked. Wood points out that other blockchains cannot make this claim.
- The first example of a new asset class: Bitcoin is the pioneer of a brand new asset class.
Wood acknowledges that ETH plays an important role in supporting the Defi world, adding that Ark Invest holds Bitcoin, Ether and Solana positions in public funds.
Referring to Gold, a traditional store in Value, Wood said it does not include gold in its portfolio as Ark Invest has focused on disruptive innovations that technology is responsible for. He takes Gold’s performance seriously, but this time he believes that the period around the rise is related to geopolitical risks rather than inflation. He added that wealthy individuals, especially older generations, could turn into gold instead of digital assets during periods of uncertainty.
*This is not investment advice.
