Cathie Wood Fires Back at Dimon's Bitcoin Criticism, Citing Massive Computing Power and Growing Institutional Interest While Revealing 25% of Her Portfolio in Crypto
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Cathie Wood of ARK Invest responded to JPMorgan CEO Jamie Dimon's criticism of Bitcoin, citing data that she says contradicts his "pet rock" label.
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Wood highlighted Bitcoin's massive computing power - 500 exahashes per second, dwarfing the world's top supercomputers.
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She noted increased institutional interest in Bitcoin from major firms like BlackRock and ARK's own Bitcoin ETF.
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Wood revealed a significant 25%+ of her personal portfolio is invested in Bitcoin, excluding Ark and real estate.
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Despite Wood's arguments, Bitcoin's price has struggled lately, hovering around $41,200 over the past day.