Cathie Wood is the CEO of Ark Invest, and she is known for making risky financial bets that have created maximum outputs historically. Mike Novogratz is the founder and CEO of Galaxy Digital. Both financial moguls recently sat down for a debate on cryptocurrency in Bahamas City. Their discussion included topics like Web3, NFTs, and finding displacement routes for Bitcoin to make a $1 million output.
Wood opened the conversation by setting a goal for Bitcoin to generate massive returns before the end of the ongoing decade. Both participants looked past the recent recession happening in cryptocurrency markets for a month. Furthermore, both seasoned investors confessed that they are bullish on Bitcoin for the long term as well as Web 3.
ARK Invest and Galaxy Digital, both firms founded by Wood and Novogratz, respectively, are heavily invested in cryptocurrencies. Wood and Novogratz reiterated that their stance on cryptocurrencies remains firm despite the recent market outlook. The duo also reflected on the impact of cryptocurrencies on the political development of the United States.
According to Wood, after the recent geopolitical concerns, crypto markets have gained bipartisan interest in the country. Novogratz seconded her opinions by saying that members of the Republican and Democratic parties are both working on educating themselves on cryptocurrencies. He further added that the change of political pace could pressure SEC to approve a Bitcoin Spot ETF sooner than later.
Ark Invest CEO Seems Highly Bullish on Bitcoin
Cathie Wood recently made a bold comment about Bitcoin that the digital currency can hit a $1 million evaluation by 2030. The asset management CEO further added that Bitcoin has already conquered 50% of the Gold commodity market. She further claimed that the international remittance trends could shift drastically with Bitcoin presence and also demonstrated the examples of Salvador and Tesla that enabled Bitcoin payments.
Novogratz issued a rather conservative prediction about Bitcoin price appreciation falling around $50,000. Wood claimed that Musk might go for transforming Twitter into a decentralized social media network. She, however, also holds optimism for NFT development, claiming it is a way to ensure digital distribution with verified online ownership. Meanwhile, Novogratz remained comparatively reserved about the projects like Bored Yacht Club. Wood thinks that Web3 can morph conventional asset management by making it digitized.