Cathie Wood Shares Bullish Thoughts on Bitcoin and AI
- Cathie Wood, the CEO of ARK Invest, has emphasized the importance of the coalition of Bitcoin (BTC) and AI.
- The executive said that the coalition of the two technologies can transform the overall economic landscape.
- “I was blown away by the possibilities these brilliant entrepreneurs are creating,” said Cathie Wood.
- The executive backed a research report titled “Investing In Artificial Intelligence: Where Will Equity Values Surface?”
Cathie Wood, the founder, CEO, and CIO of ARK Invest, an investment management firm, has shared her bullish opinion on the convergence of Bitcoin (BTC) and artificial intelligence (AI). It is crucial to note that the recent surge in the popularity of AI has left blockchain and crypto enthusiasts wondering what the coalition of the two would bring to the table.
In a statement made public on social media platform X (formerly known as Twitter), Cathie Wood stated that there is huge potential in the coalition of Bitcoin and AI, adding that it could transform the overall economic landscape of entities and also promote positive implications for diverse industries.
“The convergence between Bitcoin – and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating,” said Cathie Wood.
Cathie Wood has backed a research report published by ARK Invest titled “Investing In Artificial Intelligence: Where Will Equity Values Surface?” while hinting that both the firm and its executive have been investigating the significance of AI within investment strategies. Interestingly, the entrepreneur has allocated investments to various AI-related stocks over the past few years.
Additionally, the ARK Disruptive Innovation ETF, an investment product focused on AI and other pioneering technologies, outperformed the Nasdaq 100 Index and achieved a notable mid-year profit of 41.2%.
More importantly, Cathie Wood had recently purchased a significant number of Coinbase shares amid the downturn in the price of the crypto exchange’s stock. Moreover, the investment management firm also purchased a huge stack of shares of Block, the firm previously known as Square and founded by Jack Dorsey, the founder of Twitter.
As per an earlier report by BitcoinWisdom, last year Cathie Wood acknowledged that she had dramatically underrated the gravity of inflation, adding that the US economy is possibly in recession. The exec attributed the prevailing inflation to a variety of conditions, including supply chain disorder and geographical factors.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
