Cathie Wood Stays Bullish On Bitcoin: 'It's The Biggest Of All The Crypto Ideas Out There'

Ark Invest founder Cathie Wood defied the major sell-off of Bitcoin BTC/USD, saying the world's largest digital currency is one of the most significant investments of our time.

In a CNBC interview on Wednesday, she emphasized Bitcoin's role in shaping a global, rules-based monetary system.

Wood expressed her enthusiasm about Bitcoin now being available in an exchange-traded fund wrapper, making it highly accessible at low costs.

She also acknowledged the speculations of a potential sell-off following the ETF launch, confirming that these predictions did materialize to some extent. 

Also Read: Forget Trump NFTs, This Picture Of A Rock Sold For $372,011 

"We said yes (to the possibility of a sell-off). And then we were hearing that so much that we thought, well, maybe not. Well, it turns out that FTX is, I guess it's nearly $1 billion in GBTC, has been sold, as the Bitcoin ETF has come out and that has been part of the pressure" Wood said.

"This is a very big idea. And we think it's the biggest of all the crypto ideas out there. So we're very happy to be a part of this movement," she added.

Wood further described Bitcoin as the "financial superhighway," a public good, and its price targets have been set accordingly.

Looking towards the future, Wood expressed high expectations for Bitcoin's value, setting an ambitious price target for the year 2030.

Read Next: Binance Wants Fraud Lawsuit With SEC Dismissed On Heels Of $4.3B DOJ Settlement

Photo: Shutterstock and Ark Invest