Benzinga - Ark Invest founder Cathie Wood defied the major sell-off of Bitcoin (CRYPTO: BTC), saying the world's largest digital currency is one of the most significant investments of our time.
In a CNBC interview on Wednesday, she emphasized Bitcoin's role in shaping a global, rules-based monetary system.
Wood expressed her enthusiasm about Bitcoin now being available in an exchange-traded fund wrapper, making it highly accessible at low costs.
She also acknowledged the speculations of a potential sell-off following the ETF launch, confirming that these predictions did materialize to some extent.
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"We said yes (to the possibility of a sell-off). And then we were hearing that so much that we thought, well, maybe not. Well, it turns out that FTX is, I guess it's nearly $1 billion in GBTC, has been sold, as the Bitcoin ETF has come out and that has been part of the pressure" Wood said.
"This is a very big idea. And we think it's the biggest of all the crypto ideas out there. So we're very happy to be a part of this movement," she added.
Wood further described Bitcoin as the "financial superhighway," a public good, and its price targets have been set accordingly.
Looking towards the future, Wood expressed high expectations for Bitcoin's value, setting an ambitious price target for the year 2030.
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Photo: Shutterstock and Ark Invest
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