Cathie Wood has been impressed that BTC was moving in a different way compared to that of the equity market to the recent crisis in the banks.
The new Bitcoin value proposition is in complete display despite the current crisis in the banking sector of America. Cathie Wood thinks this will bring in more of the institutioners over the time in the crypto market. ARK’s Cathie Wood is convinced of this.
Cathie Wood has shared what she thinks about the latest surge in price in the Bitcoin prices. She said in a Bloomberg interview that stating this new behavior in prices, The Bitcoin will bring in more institutions. She also added that, the fact that Bitcoin has moved in a separate way from the stock market has been instructive.
Cathie Wood Said That The Recent Banking Crisis In The Bitcoin Market Is A Good Sign:
The institutional interest in Bitcoin might have already been present in the market as per Linch, another CEO of a crypto exchange in Seattle called Bittrex. Oliver Linch in an interview with The Wolf Of The Wall Street Podcast said that some bigger banks are buying crypto as their investment products even before the recent crisis in the banking sector. However, he also said that there is a small line between the crypto firms and the traditional institutes of finance. This has caused headwinds in the institutional adoption in the last few months.
As for the recent impact on the market price of Bitcoin, Cathie Wood in her interview explained her company’s investment of a million USD in BTC was based on a BTC allocation analysis made by an institutional investor. That estimated the firms will allocate between 2.5% to 6.5% to Bitcoin in their portfolios.