ARK Invest CEO Cathie Wood expressed optimism about the future of digital assets under new SEC Chairman Paul Atkins.
Cathie Wood Praises Incoming SEC Chair, Highlights Bitcoin's Growth Potential
Speaking about the leadership transition, Wood said Atkins is expected to reverse regulatory restrictions placed on digital assets by outgoing Chairman Gary Gensler and strengthen protections of private property rights in the digital space.
Wood’s comments echo a growing sentiment in the financial sector about Bitcoin’s transformative potential, with Federal Reserve Chair Jerome Powell also commenting on the subject, describing it as a “virtual digital version of gold.”
Powell noted that the gold market is worth around $15 trillion, while Bitcoin's market value is only $2 trillion, drawing attention to the huge difference in value between the two.
“Bitcoin is still in its early stages,” Powell said. “It represents much more than gold when you consider its utility and potential in the digital economy.”
Wood echoed this sentiment, emphasizing Bitcoin’s expanding role as a store of value and its capacity to disrupt traditional financial systems.
Wood's comments come amid growing interest in Bitcoin as institutional investors increasingly view the cryptocurrency as a critical asset class.
As regulatory clarity increases under new leadership, market participants predict that Bitcoin and other digital assets will gain greater legitimacy and adoption.
*This is not investment advice.
