HomeCryptocurrencyBitcoinBitcoin Bigger Idea Than Apple, Amazon Says Ark Investments CEO

Bitcoin Bigger Idea Than Apple, Amazon Says Ark Investments CEO

-

Bitcoin has officially entered the mainstream. The most recent edition of Charlie Rose, the PBS interview show that has endured since 1993, features Cathie Wood, CEO and CIO of Ark Investment Management, along with reporters from the Wall Street Journal and Bloomberg.

Early in the interview, Wood compares the overall market cap of Bitcoin (in which she includes BCH) to the cap of companies such as Apple or Amazon. She says:

“The network value of Bitcoin when you include Bitcoin and Bitcoin Cash is little over $100 bln. So it’s come up and it’s come very fast. But it’s at a fraction of Apple’s valuation, of Amazon’s valuation, and we think its a much bigger idea than either of those.”

Bankers and the changing financial world

During the interview, the discussion turns to the ways that Bitcoin will disrupt the banking industry. Because it circumvents bankers, all three participants in the interview agree that the banking industry is very much not pro-Bitcoin. However, according to Wood:

“This actually is increasing the public’s interest in [Bitcoin]. So you have Jamie Dimon – very public figure, very well known – along with Howard Marks of Oaktree…all negative. Interestingly, the following week after Jamie’s comment, James Gorman, CEO of Morgan Stanley…speaking about it in very different tones. And I think it’s because they’re beginning to see trading opportunities.”

The world’s radically changing financial landscape has begun to take on new properties that investors and consumers could have never imagined. Comparing the technology to VOIP, Wood remarks that no one understood that voice transmissions could be free over the internet, but now they are. Eventually, “money over IP will be free as well.”

The interview can be found here.


LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,701FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img