ARK Invest CEO Cathie Wood addressed market concerns over an AI bubble, cryptocurrency downturns, and macroeconomic issues in a recent video. Despite Bitcoin's recent drop to $60,000 and its low correlation with gold at 0.14, Wood noted that gold's rise often precedes a cryptocurrency price surge. In response to market panic, ARK has increased its holdings in crypto-related stocks.
Wood identified Bitcoin, Ethereum, and Solana as the 'Big Three' in the crypto space, emphasizing Bitcoin's role as a revolutionary blend of monetary system, technology, and new asset class.
Cathie Wood Reaffirms Confidence in Bitcoin Amid Market Concerns
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