With $7 Billion Under Management, Bitcoin Friendly Cathie Wood Reveals Her Latest Views On BTC After The Fall

In a recent interview, ARK Invest CEO Cathie Wood shared her thoughts on a variety of topics, from Elon Musk's role at Tesla to the launch of Bitcoin ETFs.

Wood was asked about Elon Musk's recent comment in which he stated that he wanted 25% voting control in Tesla before realizing his AI goal at the company.

In response, Wood praised Musk as a visionary leader and modern-day innovator. Stating that he supports visionary leaders who stand against shareholders who focus on the short term, Wood noted that aggressive investments are needed to seize some of the biggest opportunities in life.

The conversation then shifted to Bitcoin and the launch of ARK's Bitcoin ETF. Since the approvals received the green light, the price of BTC and ETF shares, including ARK21 shares, have fallen. Asked if this was a 'sell the news' dynamic, Wood confirmed there had been previous speculation about this possibility.

He explained that nearly a billion dollars in GBTC has been sold since the Bitcoin ETF was launched, and he believes this is part of the pressure. Despite this, Wood has not given up his belief in Bitcoin. He described Bitcoin as one of the most important investments of our lifetime and a global rules-based monetary system.

Wood expressed his excitement that BTC is now covered by the ETF and therefore accessible at very low prices. Evaluating this as providing greater access to Bitcoin, Wood defines Bitcoin as a financial gateway and public good.

Looking ahead, Wood said he is very excited about the future of BTC. He explained that ARK's price target for Bitcoin is quite high considering a time horizon until 2030. In his previous statement, Wood said that his basic scenarios for BTC were $ 600,000 and bull scenarios were $ 1.5 million.

*This is not investment advice.