Aug. 12, 2023
On November 22, 2022, Cathie Wood said on Bloomberg TV that Bitcoin would trade for $1 million each by 2039. That would make Bitcoin worth $19.1 trillion. That's more than Apple, Google, Tesla and Meta combined. In fact, its more than the the entire NASDQ 100 combined at $16.9 trillion. This type of behavior by a public person such as Cathie Wood causes people to invest their savings in an investment bubble that exceeds any investment bubble ever achieved. To say the least, it is irresponsible. Bitcoin has no earnings and no book value. It does not pay a dividend and does not even have a business plan that projects any revenues. It is, in a word, worthless. As the public spokesperson for ARK 21Shares Bitcoin ETF, Cathie Wood has demonstrated she will act irresponsibly.