Veteran investor and cryptocurrency advocate Cathie Wood referred to Bitcoin (CRYPTO: BTC) as the “pure cryptocurrency” in an interview aired Saturday, indicating that it will always have an edge over Ethereum (CRYPTO: ETH).
‘Bitcoin Owns The Crypto Space’
Speaking to Wilfred Frost on The Master Investors podcast, the Ark Invest CEO expressed confidence that Bitcoin would be the “biggest” cryptocurrency by far.
“Bitcoin owns the cryptocurrency space when it comes to pure crypto,” Wood added. “It’s a monetary system, rules-based. The rule is the quantity theory of money.”
Wood highlighted Bitcoin’s capped supply at 21 million as one of its biggest advantages.
See Also: Ethereum (ETH) Price Prediction: 2025, 2026, 2030
Wood Differs With Tom Lee
When asked about Wall Street analyst Tom Lee’s stronger bull case for Ethereum, Wood stated, “We would differ.”
“It [Bitcoin] is also a technology, a layer one blockchain technology that has never been hacked. The other
blockchains cannot say that right,” Wood argued.
She acknowledged that Ethereum plays a “very important role” in decentralized finance, but faces growing competition from the Layer-2 blockchains, which end up collecting a lot of fees.
“These competing interests are maybe something that Tom and I can debate a little bit,” Wood said
In response, Lee called Wood the “GOAT” of the cryptocurrency world and praised her foresight in predicting the rise of both Bitcoin and Ethereum.
Wood’s Ark Invest Is Invested In Bitmine
This debate comes at a time when Ethereum’s potential is being widely discussed. Lee, who chairs ETH treasury company Bitmine Immersion Technologies Inc. (NYSE: BMNR), outlined earlier this month how Ethereum could reach a value of $62,000 per token, using historical price bases and the Ethereum-to-Bitcoin ratio. He also highlighted Ethereum’s potential as financial infrastructure.
It’s worth noting that Wood’s Ark Invest has been making significant investments in Bitmine. It currently owns shares worth $321.65 million ARK Innovation ETF (BATS: ARKK), Ark Fintech Innovation ETF (BATS: ARKF) and ARK Next Generation Internet ETF (BATS: ARKW).
Price Action: At the time of writing, BTC was exchanging hands at $112,077, up 2.09% in the last 24 hours, according to data from Benzinga Pro. ETH traded up 2.81% at $4,116 at last check.
Bitmine shares closed 1.88% higher at $50.50 during Friday’s regular trading session.
As of this writing, the stock demonstrated a very high Momentum score. Visit Benzinga Edge Stock Rankings to see how it stacks up against Strategy Inc. (NASDAQ: MSTR), the world’s largest cryptocurrency treasury company.
Read Next:
Bitcoin, Ethereum, Dogecoin, XRP Spike: Analyst Predicts ‘Monday Morning Sweep’ For BTC Before A ‘Great’ Q4
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: artjazz on Shutterstock.com
BTCGrayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest$48.710.60%Overview$BTCBitcoin – United States dollar$111841.47-0.32%$ETHEthereum – United States dollar$4120.35-0.57%ARKFARK Fintech Innovation ETF$55.701.18%ARKKARK Innovation ETF$83.512.30%ARKWARK Next Generation Internet ETF$170.391.80%BMNRBitMine Immersion Technologies Inc$50.832.54%MSTRStrategy Inc$309.502.93%Market News and Data brought to you by Benzinga APIs
