Not A Fan Of Ethereum? ARK Invest’s CEO Cathie Wood Reveals Favorite Crypto
Cathie Wood, the CEO of ARK Invest, has constructed a repute as one of the outspoken advocates of the crypto business. In latest remarks, she made it clear that whereas she sees worth in Ethereum’s ecosystem, her conviction lies most strongly with Bitcoin. Her stance is rooted not solely in her most up-to-date statements, however in a constant narrative she’s developed through the years.
Bitcoin Is The Pure Cryptocurrency
While speaking on The Master Investor podcast hosted by Wilfred Frost on YouTube, Cathie Wood reiterated her perception that Bitcoin is the pure cryptocurrency and described it as the worldwide amount rules-based financial system. She famous that Bitcoin’s Layer-1 blockchain has by no means been hacked, and this units it aside from different networks. She additionally expressed concern that Ethereum might lose dominance as Layer-2 options seize extra exercise and charges.
“In truth, Bitcoin owns the cryptocurrency area on the subject of pure crypto,” she mentioned. “We assume it’s going to be the most important one by far,” she continued.
Despite her preference for Bitcoin, Wood has softened considerably towards Ethereum in sure respects. She acknowledged Ethereum’s significance in decentralized finance (DeFi) and mentioned it performs a vital function within the ecosystem. However, this significance could possibly be undermined by different Layer-2 networks like Coinbase’s Base, that are going to be competing with each other.
Earlier Statements And Views On Crypto Assets
More just lately, Cathie Wood praised Ethereum’s shift towards zero-knowledge proof (ZK) scaling methods, even when she admitted she doesn’t absolutely grasp all of the technical particulars.
“I can’t say I perceive all the particulars, however the Ethereum Foundation does appear to be proposing the fitting strikes for scalability and privateness,” she said on the social media platform X.
At the identical time, the Ark Invest CEO additionally famous some new protocols and on-chain derivatives platforms like Uniswap as ones to observe. She in contrast Hyperliquid to Solana’s early days and famous that it has promising potential.
Still, she has been clear that not each cryptocurrency earns her confidence. Wood has said overtly that she will not be a believer within the overwhelming majority of tokens circulating available in the market. Instead, her conviction rests on a number of core property that she believes will dominate in the long run. In her view, Bitcoin, Ethereum, and Solana stand aside as the large three.
“Those are the large three proper now,” she mentioned.
She acknowledged the significance of stablecoins but in addition famous that they don’t belong in the identical class as these main cryptocurrencies.
Ark Invest, via its ARK 21Shares Bitcoin ETF (ARKB), owns 43,799 BTC price $4.91 billion. Cathie Wood has made strong, repeated predictions for Bitcoin’s future worth. Back in May, she reaffirmed her belief that Bitcoin may commerce as high as $1.5 million by 2030.
The firm additionally maintains publicity to Ethereum, together with positions related to Bitmine Immersion, whose latest Ethereum acquisition spree has made it the biggest Ethereum treasury firm in the world.