It’s been just reported that the ARK Invest founder Cathie Wood said that she views Bitcoin (BTC) as a disruptive innovation in line with corporate giants such as Tesla, Apple, and Amazon.
Bitcoin is compared to Apple, Tesla, and Amazon
In a new YouTube video, Wood explains how recent history shows that disruptive tech eventually explodes in market capitalization despite doubts from investors.
“I can’t tell you how many times the sell-side and the buy-side said, ‘This thing’s going bankrupt. This was a figment of Jeff Bezos’s imagination, of Wall Street’s imagination.’ Now [Amazon has] a $1.6 trillion economy.”
She also said the following:
“[It’s] the same with Apple. Nobody thought Apple could win against Nokia, Motorola [and] Ericsson. How could they? Apple had no [market] share… Apple redefined the cellphone into smartphone.”
Wood also highlighted that investors were also less than optimistic about the growth prospects of electric vehicle maker Tesla.
“And even Tesla more recently, 2019. Tesla was not going to be able to scale its manufacturing. It was going to run out of money. The large auto manufacturers were going to run circles around it. What do you know? It’s up 20 fold since then.”
Regarding Bitcoin, she highlighted the ways in which her investment management firm had to reckon with doubters when they first bought into BTC.
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the red and the king coin is priced at $45,440.
Despite the massive volatility of the king coin, there are a lot of optimistic predictions.
It’s been just revealed that the crypto analyst and DataDash host Nicholas Merten says Bitcoin (BTC) will hit new all-time highs sooner than most traders think.
In a new DataDash YouTube update, Merten made sure to explain that BTC will retest $65,000 much faster than most anticipate, with underlying fundamental developments fueling the move.