Cathie Wood, founder and chief executive officer of ARK Investment Management LLC, reaffirmed her confidence in Bitcoin, Coinbase and artificial intelligence (AI) stocks in a recent interview.
Wood, who runs the popular ARK Innovation ETF (ARKK), said he expects Bitcoin to reach $1.5 million per coin over the long term as more institutions adopt cryptocurrency as a store of value and hedge against inflation.
Also, Coinbase Global Inc., the largest US cryptocurrency exchange and ARKK's second largest asset. praised his company for its resilience in the face of regulatory uncertainty and legal challenges.
Wood, a US judge, Ripple Labs Inc. He said his company's recent decision that the XRP token is not a security when sold to individual investors on exchanges is a positive sign for Coinbase.
Wood also includes Nvidia Corp., the leading chip maker specifically for artificial intelligence applications and the third largest entity in ARKK. He expressed his optimism about artificial intelligence stocks, including NVDA.
*Not investment advice.