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Cathie Wood says bitcoin's market cap could swell into the trillions

Cathie Wood says bitcoin's market cap could swell into the trillions

Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years.
ARK Invest




Cathie Wood says she could see bitcoin's market cap swelling into the trillions.




The ARK Invest founder said bitcoin is still in its "very early" stages.




The announcement of bitcoin investments by major institutions this month was a pleasant surprise, Wood said.




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Cathie Wood says bitcoin is still in its "very early" stages and could see its market capitalization swell into the trillions. "You do get into the trillions of dollars of market cap potential out there," Wood said, speaking on a panel during the Bloomberg Crypto Summit Thursday. Wood, founder of fund manager ARK Invest, likened the world's most popular currency to an equally famous technology company. "When you think the market cap of Bitcoin is roughly $950 billion, think about that in the context of an Apple," Wood said. "It's less than half of Apple's valuation and here we're talking about the reserve currency of the crypto asset world."
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