Cathie Wood Responds to Jamie Dimon
Cathie Wood hit back at Jamie Dimond after the JPMorgan CEO made dismissive comments about Bitcoin, likening it to a “pet rock” that “does nothing.” She said data doesn’t support such an opinion, and seemed to question Dimon’s tech savvy in a barrage of tweets.
Elmandjra Highlights Bitcoin Milestone
Ark Invest’s Director of Digital Assets, Yassine Elmandjra noted that Bitcoin’s hash rate hit an all-time high of 500 exahashes per second this month, emphasizing its significance in the world of computing. He also pointed out that this dwarfs the capabilities of the world’s most potent supercomputer by a factor of 500.
Cathie Wood Taunts Dimon
Wood emphasized that Bitcoin is backed by the largest computer network in the world, implying that the network is larger than the combined size of clouds built by Amazon, Google, and Microsoft.
Wood Predicts BTC Reaching $1.5 Million
Wood predicted in an interview with CNBC that BTC could rise to as high as $1.5 million in the next bull run, given the introduction of spot Bitcoin ETFs (exchange-traded funds) in the United States. She shared that ARK Invest’s base case for the leading cryptocurrency is around $600,000, while the fund manager’s bearish target is approximately $250,000. Wood said the probability of BTC reaching $1.5 million in the next bull cycle has risen due to Bitcoin ETFs.
Hot Take: Cathie Wood Takes on Jamie Dimon and Makes Bold Bitcoin Prediction
Cathie Wood takes Jamie Dimon to task for his comments on Bitcoin, while continuing to make bold predictions about the leading cryptocurrency. She predicts that BTC may reach as high as $1.5 million in the next bull run, driven by the introduction of spot Bitcoin ETFs in the United States.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.