Bitcoin Hits Peak Excellence, Declares Cathie Wood of ARK Invest, On-Chain Metrics Echo Bull Market

In a recent CNBC interview, ARK Invest CEO Cathie Wood affirms that Bitcoin is unmistakably in a robust bull market, citing the resilient health of the digital asset’s network and its established reputation as a secure store of value. 

Wood emphasizes the concept of a “flight to safety,” pointing out Bitcoin’s resilience during crises such as the regional bank crisis, where it surged from $19,000 to nearly $30,000. She contrasts this with traditional banking indices, underscoring Bitcoin’s lack of counter-party risk. 

Wood expresses confidence that holding Bitcoin directly will outperform investments in Bitcoin-related exchange-traded funds (ETFs), though she also sees potential for significant gains in digital asset-related equities, particularly companies involved in digital wallet creation. Wood raises questions about whether entities like Coinbase or Square with Cash App will emerge as pivotal players in this space.

Clever Robot News Desk 15^th November 2023