Cathie Wood, Founder and CEO of Ark Invest, a company focused on emerging technologies and managing $35 billion in assets, offered her clear and compelling views on the cryptocurrency market. Appearing on “The Master Investor Podcast” hosted by Wilfred Frost, Wood detailed why she believes Bitcoin will always be the number one cryptocurrency. According to Wood, there won't be many cryptocurrencies on the market, and Bitcoin already owns the “pure crypto” space. The famous investor believes that Bitcoin will always be the biggest by far among all its other competitors. Wood explains the main feature that makes Bitcoin superior as “a rules-based monetary system”: “Bitcoin is a monetary system, it's based on rules. The rule is the quantity theory of money: it will stop at 21 million units. We're currently at about 20 million units. That's the quantity theory.” Countering the predictions of some analysts like Tom Lee that Ethereum (ETH) will surpass Bitcoin's market capitalization, Wood argues that Bitcoin will always be ahead thanks to its three key roles: Global Monetary System: Serving as a rules-based, global monetary system. Layer 1 Blockchain Technology: The most secure blockchain technology, known for never having been hacked. Wood notes that other blockchains cannot make this claim. The First Example of a New Asset Class: Bitcoin is the pioneer of a brand new asset class. Related News: JUST IN: Binance Futures Lists a New Altcoin Wood acknowledges that ETH plays a significant role supporting the DeFi world, adding that Ark Invest has positions in Bitcoin, Ether, and Solana in its public funds. Referring to gold, a traditional store of value, Wood said Ark Invest doesn't include gold in its portfolio because its focus is on technology-backed disruptive innovation. He takes gold's performance seriously, but believes this time around the rise may be related to geopolitical risks rather than inflation. He added that wealthy individuals, especially older generations, may turn to gold instead of digital assets during times of uncertainty. *This is not investment advice. Continue Reading: Cathie Wood, Who Manages $35 Billion, Answers the Question: “Will Bitcoin or Ethereum Be the Biggest in the Future?”
