Cathie Wood bullish on Bitcoin and AI convergence
The ARK Invest CEO shares her views on the intersection of Bitcoin and artificial intelligence, highlighting its economic implications.
In a recent X (formerly Twitter) post, Cathie Wood, the CEO of ARK Invest, expressed her optimistic view on the intersection of Bitcoin (BTC) and artificial intelligence (AI)
In the post, Wood hinted at the transformative potential in the dynamic synergy between AI and Bitcoin, emphasizing the possibilities and positive implications the technologies hold for diverse industries and the overall economic landscape.
The convergence between Bitcoin – and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating. Look for this podcast on Thursday! https://t.co/kPW92CuhFQ
— Cathie Wood (@CathieDWood) September 2, 2023
Backing Wood’s optimistic outlook is a research document published by ARK Invest titled “Investing In Artificial Intelligence.” This research serves as a robust indicator that both Cathie Wood and Ark Invest are actively assessing the significance of AI within their investment strategies.
Throughout the years, Cathie Wood has allocated investments to various AI-related stocks, demonstrating her strong belief in the rising technology. Beyond her keen interest in AI, Cathie Wood’s enthusiasm for Bitcoin is evident through ARK Invest’s endeavors concerning the Bitcoin ETF. Furthermore, besides Bitcoin, ARK Invest has substantial holdings in Coinbase and Robinhood, solidifying its presence in the cryptocurrency industry.
Related: Bitwise withdraws Bitcoin and Ether Market Cap ETF application
The document also highlights Ark Invest’s strategies that have reaped rewards from investments in artificial intelligence tech stocks. The ARK Disruptive Innovation ETF (ARKK), dedicated to AI and other pioneering technologies, outperformed the NASDAQ 100 Index (QQQ), achieving a significant mid-year profit of 41.2%.
Wood’s tweet, along with Ark Invest’s research, illustrates the increasing influence of AI in the realm of investments. The fusion of Bitcoin and AI has the potential to trigger a profound transformation in corporate operations, potentially reshaping productivity and cost dynamics. As investors explore fresh avenues for growth, Wood’s optimism serves as a persuasive signal of the vast possibilities emerging at the intersection of cryptocurrency and artificial intelligence.