Ark Investment Management CEO Cathie Wood defended Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), saying the two major cryptocurrencies "didn't skip a beat" despite the collapse of centralized entities such as FTX and Celsius.
What Happened: In an interview with CNBC on Monday, Wood expressed her confidence that decentralized and transparent blockchains like Bitcoin and Ethereum are "on the right track.”
.@ARKInvest CEO @CathieDWood tells @carlquintanilla and @SaraEisen that she is confident that decentralized and transparent blockchains like #Bitcoin and #Ethereum are "on the right track." $BTC $ETH pic.twitter.com/daDQIc2UzT
— Squawk on the Street (@SquawkStreet) February 27, 2023
“FTX, Celsius and 3AC are completely opaque and centralized. Those were the companies that went under but blockchains like BTC and Ether didn’t skip a beat and transactions did not stop. And that has given us a lot of confidence,” she said.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
Wood's Ark Invest on Feb.1 released its seventh edition of the ‘Big Ideas 2023’, which suggested that BTC is on a trajectory that could see it become a multi-trillion dollar market in the coming years.
According to Ark research, the price of Bitcoin could exceed $1 million by 2030, a target Wood has predicted time and again.
Price Action: At the time of writing, Bitcoin was trading at $23,457, down 0.47% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin, Ethereum, Dogecoin Fall Amid Regulatory Jitters: Analyst Says 'Things Could Get Ugly Again' If Apex Crypto Rejects $23K
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
