Future is Bitcoin! Yes, indeed bitcoin is the future wheel of fortune! The very popular money manager and founder of the asset management firm ARK Invest, made a remarkable statement in one of her interviews. She bashed the billionaires especially money manager John Paulson. In her statement, Cathie Wood asked the billionaires to get some books on bitcoin as this leading cryptocurrency is the future!
Wood, a long-time advocate of crypto has exposure to ups and downs of the digital currency. She has seen the performance of many levered stocks such as Coinbase (COIN), and Square (SQ). These experiences came with her various innovation focused ETF’s.
John Paulson, like many other old-timers in the financial services industry believes that crypto will eventually turn out to be worthless! Paulson even made a statement asking people not to invest in crypto! This is because bitcoin has no future!
Cathie Wood thrashed Paulson and the others like him. She said that these crypto detractors are missing many important points in the debate! She said Bitcoin is not just a system to store money or gold. It is more than that! Bitcoin specifically is a new Global Monetary system. Therefore, bitcoin’s future is very bright in the coming years! It is also beyond the control of the policy makers.
Cathie Wood: Queen of Investing in Innovation
Cathie Wood has established herself as the master of ETF (Exchange-traded fund). In the year 2020, her flagship, ARK Innovation ETF posted gains of 153% crushing the return of entire stock market! With an estimated net-worth of around $400 million, Fortune chose Cathie as an expert in the 2019 Fortune’s Investor Guide.
Her statements can surely influence the market analytics!