The glass is half full. Cathie Wood has been in the news a lot lately. Between its investment in Coinbasehis ETF Bitcoin and its statements all also bullish The new generation of bullish companies, one after the other, has become a fixture in the news. And yet, some believed that the recent sale of shares COINan admission of weakness and the beginning of a renunciation. But nay! The lady is right in her boots and brushes all this aside with a wave of her hand.
Yes, she’s always very optimistic on cryptos. Yes, she sees Bitcoin reaching new heights. And yes, the recent U.S. court ruling in favor of Ripple is obviously a very positive sign of the times. Get yourself into the shade with a cool drink, and enjoy 48 hours of Cathie Wood’s statements… To be consumed without moderation!
Coinbase and Binance: the big winners in the Ripple affair?
To say that Ms Wood is optimistic is certainly an understatement. However, it’s also disrespectful, because she’s not here to amuse the gallery. A graduate of the University of California, she worked in some of the big finance houses before founding her own company called ARK Invest. Also acclaimed by Forbes magazine in 2020, Cathie Wood knows what she’s doing and has a clear idea of where she’s going.
Besides, when she sold 478,356 shares for more than 50 million dollarsis not a panic sellbut simply profits to be taken and funds to be reallocated. Next question.
When it comes to giving your opinion on the court ruling on Rippleshe thinks twice before giving her analysis and remains measured in her statements:
« Even if the decision is not completely in Ripple’s favor, it is on the whole rather positive for crypto exchanges. Indeed, it could set a favorable precedent for Coinbase and Binance in their upcoming legal battle against the regulator. »
What’s more, despite the SEC’s repeated attacks, theCoinbase share hasn’t deviated that much. And for her, it’s a sign of resistance manifesto.
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Bitcoin at $1.5 million best-case scenario
But as much as she can remain factual most of the time, she can sometimes be quite out of sync with what she says. And that’s what happened in a intervention on American television on July 17, in which Cathie Wood let herself go to a few confidences to say the least bullish.
So she gave a price range that Bitcoin could reach in the coming years, and you’re not about to hear it. For her, in the least advantageous scenario, Bitcoin would reach « only » $625,000 and, in the best-case scenario, could flirt with 1.5 million of dollars. To explain such predictions, she draws on the latest banking crisis in March, which saw massive cash withdrawals from troubled banks.
Meanwhile, the king of cryptos wasn’t budging. For her, there was no doubt, Bitcoin is protection. Against what? Here is his answer:
« Bitcoin is an insurance policy against two things. First, against the confiscation of your money, either directly or through inflation. But also against the risk of counterparty default. »
Cathie Wood reached the large family of those who see Bitcoin going through the roof in the future, like the Winklevoss brothers or more recently Tim Draper. So, is this a « Coué method » to comfort oneself in one’s choices or a brilliant intuition(s)? It’s up to you to make up your own mind!
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