Ark Invest CEO Cathie Wood made headlines last month by staying bullish on Bitcoin. The cryptocurrency has fallen more than 60% over the years, putting her below $17,000 at the time, but she confidently predicts that by 2030 she will reach $1 million, her The company repeated a call she made in April.
This weekend, she showed her faith in Bitcoin, shared data to back it up, and criticized Sam Bankman-Fried, the founder and former CEO of crypto exchange FTX. did.
FTX collapsed suddenly last month, shaking confidence in a sector already reeling from the “crypto winter.”
saturday wood murmured“Bitcoin’s blockchain didn’t skip a beat during the crisis caused by opaque centralized players. No wonder Sam Bankman Fried didn’t like Bitcoin. Bitcoin is transparent. It’s decentralized. He couldn’t control it.”
Wood also shared a link to a Bitcoin report from her company.
“Despite the market volatility associated with the demise of FTX, the last time supply held by long-term holders, or supply moved, was over 155 days ago, and November ended flat. We believe the data points show long-term interest and high confidence among holders despite recent events: today, long-term holder supply is 72% of total Bitcoin circulating supply. .”
Bitcoin maximalist take on FTX
One such long-term Bitcoin holder is MicroStrategy CEO Michael Saylor, who describes himself as a Bitcoin maximalist. He also played a part in his FTX debacle this week.
“On the other side of the crypto community is the Bitcoin community, and for the past two and a half years there has been a low-grade, boiling guerilla war between the two camps,” he said on the PBD podcast this week. And Sam is like the quintessential kid of the crypto world.”
Bankman-Fried and his ilk are always guilty of “shit” or “pumping and promoting unregistered securities,” he said… , issuing tokens and manipulating the price of tokens” is unethical. token, and dump it into them.
Speaking to Bloomberg last month, Wood said that bitcoin is “out of the smell of roses,” referring to Ether, the second-largest cryptocurrency by market capitalization.
“Yes, a lot of people have lost a lot of money. The crypto ecosystem is losing value here. If we’re right about the role, I think we’ll recover pretty quickly.”
Last month, Ethereum co-founder Vitalik Buterin said the collapse of FTX contained valuable lessons.
“What happened with FTX was of course a huge tragedy,” he told Bloomberg. Anything centralized is dubious by default.” These beliefs include placing trust in “more open and transparent code than individual humans.”
Of course, many prominent business leaders are skeptical of both Bitcoin and other cryptocurrencies.Mark Mobius, billionaire co-founder of Mobius Capital Partners, recently predicted that Bitcoin will drop to $10,000 next year. I predicted it would.
Fortune did not immediately respond to a request for comment from Bankman-Fried.
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