Ark Invest’s Cathie Wood Hails Bitcoin’s $100K Climb As A ‘Big Deal,’ Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency
Renowned stock picker and founder of asset management giant Ark Invest, Cathie Wood, deemed Bitcoin’s (CRYPTO: BTC) breach of the $100,000 mark a “big deal” on Sunday, hailing the leading cryptocurrency’s rising prominence in the world of finance and investing.
What happened: In a video shared on X, Wood recalled how Ark Invest published a Bitcoin whitepaper back in 2015 when the asset was valued at just around $250.
Wood remembered her early lessons from renowned economist Arthur Laffer in collaboration with whom Ark released the whitepaper.
“I said to Arthur that sounds like a big idea. How big could it be? And he said at that time, ‘Well, how big is the U.S. monetary base? That’s the reserve currency of the world. This seems to be the new reserve currency of the world.'”
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