Bitcoin’s 400x Rise Aside, Cathie Wood Says The ‘Next Exciting Leg’ Is Just Beginning
Renowned investor Cathie Wood said Tuesday that growing institutional interest in Bitcoin (CRYPTO: BTC) would herald the “next exciting leg” of the asset’s growth journey.
What Happened: The CEO of asset management firm ARK Invest was reacting to billionaire hedge fund manager Philippe Laffont’s views on Bitcoin.
Laffont, founder of tech-focused hedge fund Coatue Management, said in a recent conference that retail investors understood the value of Bitcoin earlier than institutions.
“It feels like sometimes the institutional investor is wrong and the retail investment is right,” he stated. “I don’t think we can afford to ignore it anymore.”
Wood noted that ARK Invest had given its clients exposure to the cryptocurrency back in 2015 when it was priced at only $250.
“Thanks primarily to retail investors, Bitcoin has appreciated 400-fold. Now that institutions are focused on this new asset class, the next exciting leg of …
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