ARK Investments Founder, CEO, and Chief Investment Officer Cathie Wood is known for big, bullish bets on investments such as Tesla (TSLA) and bitcoin (BTC-USD). Now she’s teaming up with 21shares on new crypto-based ETFs. Wood is bullish on bitcoin, with a base case of $600,000-$650,00, though she believes it could go even higher if a spot bitcoin ETF is approved. On the topic of a spot bitcoin ETF, something ARK Invest has applied for, Wood believes “something has changed,” because the Securities and Exchange Commission followed up to their latest application with questions instead of rejecting it outright. For Wood, this is a sign that the odds of approval “have gone up.” When asked by Yahoo Finance’s Julie Hyman about the economy, Wood argues that weakness in the housing and auto markets are showing signs of a recession, adding that based on what she has heard on earnings calls “you’d think we’re in a recession.” Wood says the Federal Reserve is paying attention to lagging indicators, one of which is the Consumer Price Index, which she thinks will “turn negative before all is said and done.” For a long time, Tesla was the top holding in the ARK portfolio. It has now dropped to third. Wood explains that it had more to do with rebalancing the portfolio than the stock. When it comes to Tesla’s price cuts, Wood says “all that Tesla’s price cuts have done is offset the interest rate hit. So really, the monthly payments haven’t gone anywhere. Tesla will continue to cut prices because it can, its technology costs are falling and it’s profitable.” Wood goes on to say “you’ll notice that the GM (GM) and Ford (F) have basically pulled back on their EV strategy and said, ‘we can’t, we can’t do this unless it’s profitable.’ Well, this is chicken and the egg. It can’t be profitable for them, just like it wasn’t for Tesla until they scale. So if they’re not gonna scale, they won’t be profitable.” Key video moments: 00:00:25 Wood on the new ETFs, why “the monetary system is bitcoin” 00:04:25 Why “something has changed” when it comes to the approval of a spot bitcoin ETF 00:07:38 Wood’s bullish case for bitcoin 00:11:12 Wood on commodities, inflation, recession 00:15:58 Wood discusses what is driving the markets right now 00:18:45 Wood talks about ARK Invest’s 2024 strategy 00:19:50 Why Wood is still bullish on Tesla 00:22:35 Wood explains why she isn’t betting big on Nvidia
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11 Comments
Another spokesperson
👍.I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market. i was at a seminar and the host spoke about making over $972,000 within 3 Months with a capital of $200,000. I just need creative ideas to afford my retirement.🚀
Did she raise her base case or make a mistake when she said $600,000 to $650,000 base case? I thought she was around $250k Base.
Nice👍
sick of KW.. I could listen to any tesla, btc or anything fanboy on X for that matter.. always bullish..
Choose wisely. BTC is not functional as a currency and has no real enterprise uses. BTC is too slow, too costly and will not scale. BTCs only value comes from mining and it is on a loosing track. Right now the energy cost eats up 55.27% of the returns. What happens in Apr. when it halves again? If the price is the same the energy cost would be 110.54% of your profits. Energy cost are increasing. Also way better crypto out. “Hedera Hbar”. It is adopted by some of the worlds largest companies and has done over 28.8 billion transactions. Over 186 million a day. Now doing over 2,152 per sec. Hedera is 200 million times less energy dependent than BTC. It is way faster, Proven ABFT secure, less costly and scalable. BTC has yet to do 1 billion tx in its life time and it is 9 years older than Hedera. Search (Bitcoin Energy Consumption Index) updated daily by Cambridge.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Mrs Bexley Wesley….
I am a btc. holder who is very confident ,the more it dips is the more opportunity to add to my holdings. To me it genuinely felt like everything has been selling off for literally no reason, I mean companies with enough cash on hand to pay off debt like NVDA, PLTR and many others… This is the time to buy I mean many altcoins are down over 50% off their highs and in the dumpster, l've been buying continuously and am gonna continue to buy as cash comes in because there is a huge rally waiting to happen.Thanks a lot to Hudson Jayden , I was able to implement her method and adhere to her guidance, earning almost 12 B TC in about two weeks…. Thanks to Hudson for informing me, I no longer hold the view that the only meaningful investments are in stocks and real estate.
Great discussion. Lots of good information provided to help reposition my portfolio going into 2024. Thanks for sharing your market insights.
She is like the bitcoin spokesperson at this point
The future of sound money is here. Litecoin (LTC) has been listed as the tried and tested alternative to bitcoin. Litecoin (LTC) is a digital commodity, not a security, which cannot be debased, censured, seized, frozen, or confiscated. As a truly decentralized digital commodity, LTC cannot be debased, censured, seized, frozen, or confiscated and it possesses MimbleWimble (MWB) privacy protocol and Proof-of-Work consensus; and both have limited supply of coins: 84 million in case of litecoin, and 21 million in case of bitcoin. Only that litecoin is lighter, swifter, and hugely undervalued against bitcoin. Bitcoin is the money of the kings, litecoin is the money of gentlemen.