Speaking at Consensus 2024, ARK Invest CEO Cathie Wood declared Bitcoin “unstoppable,” emphasizing its uniqueness and potential. Wood highlighted Bitcoin’s decentralized nature, contrasting it with Facebook’s Libra, which had a “throat to choke.”
Wood lauded Bitcoin’s principles of decentralization and self-custody, calling it a new asset class and monetary system. She also found the recent spot Ethereum ETF approval “shocking,” attributing it to growing pro-crypto sentiment in the U.S. government. Wood suggested that cryptocurrency policy is becoming an election issue, influencing future financial regulation.
Criticizing the Federal Reserve, Wood advocated for reduced intervention to let market forces prevail. She firmly chose Bitcoin over Ethereum for investment, citing its global monetary value. ARK’s price target for Bitcoin assumes it will capture over 3% of the global money supply outside major economies, a conservative estimate.
Wood praised El Salvador’s Bitcoin adoption, underscoring its strategic significance. The event signals a pivotal shift in financial landscapes, with Bitcoin poised to shape future economic policies.
