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Bitcoin Bigger Idea Than Apple, Amazon ............Says Ark Investments CEO


The recent Bitcoin spike that took it's market capitalization to a little above $100billion means that Bitcoin has officially entered the mainstream. This was the opinion of Cathie Wood, CEO and CIO of Ark Investment Management, while speaking with reporters from the Wall Street Journal and Bloomberg.

The most recent edition of Charlie Rose, the PBS interview show that has endured since 1993 and today has an 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.”

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. 

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.”

Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!


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