Cathie Wood, the founder of ARK Invest and known as the “Goddess of Stocks”, has always been optimistic about Bitcoin’s prospects. She recently stated that she had been investing in Bitcoin as early as 2015.
When Cathie Wood was a guest on the Podcast program “What Bitcoin Did” recently, he revealed that he had invested $100,000 when Bitcoin was only $250, and insisted on “not selling one coin” for many years, holding all about 400 Bitcoins to date. At current prices, the bitcoins that Cathie Wood bought at the time are now worth about $7.6 million.
Cathie Wood said that before buying bitcoin in 2015, she asked American economist Arthur Laffer to carefully study the bitcoin white paper to find out whether bitcoin has the three functions of money: store of value, unit of account and medium of exchange.
After some deliberation, Arthur Laffer told her that Bitcoin had the potential to be an asset that underpins the value of the dollar, she recalls. Cathie Wood realized right now that Bitcoin’s market cap would one day be on par with the U.S. monetary base — $4.5 trillion.
Cathie Wood said that Arthur Laffer’s response at the time prompted her to “immediately put a lot of money” into Bitcoin:
I don’t seem to have disclosed this before, but I immediately put in $100,000. I didn’t even count (how many bitcoins I bought myself). I still hold funds. Because as soon as he finished speaking, I suddenly woke up.
At press time, Bitcoin is trading at $19,418 and has a market capitalization of over $372.5 billion, and if Bitcoin’s market capitalization surges to $4.5 trillion in the future, it could rise by more than 1,000 percent.