Ark Investment’s CEO says, Bitcoin is Bigger Idea than Apple

Nishanth Shetty

Nishanth Shetty

December 30, 2017 11:11 am

Ark Investment's CEO says, Bitcoin is Bigger Idea than Apple | Coindelite News
3928 Total Views

Bitcoin News

Catherine Wood, CEO of Ark Investment Management, told CNBC that bitcoin is a “bigger idea” than Apple.

Catherine said:

“I know a lot of people say, ‘don’t compare this to Apple, which is nearing a trillion dollars, but this is so much bigger than even Apple, which is a pretty big idea.”

She told her fund cannot own bitcoin directly. So in 2015, Ark Investment Management bought shares of the Bitcoin Investment Trust. At that time, Bitcoin was trading less than $250. But this month, it as close to $20,000.

BIT Expected to Triple

Wall Street strategist Tom Lee foretells that the Bitcoin Investment Trust could triple in value by 2022 if his bitcoin price predictions prove to be correct.

At present, the Bitcoin Investment Trust – the flagship product of Barry Silbert’s Grayscale Investment is the only publicly-quoted bitcoin investment vehicle in the U.S market which is available to institutional investors. Most of the firms that have applied for bitcoin ETFs, GBTC holds the underlying assets directly rather than trading in derivatives contracts.

Ark is on the Progress

ARK Investment Management LLC recently took a new position on Facebook Inc. The company gained 65,981 shares of the social networking company’s stock, valued at around $7,591,000. Facebook comprises 2.8% of ARK Investment Management LLC’s holdings, making the stock its 10th largest position.

Wood founded ARK in January 2014, after completing 12 years as the chief investment officer of Global Thematic Strategies for Alliance Bernstein managing over $5 billion AUM.

No Comments
Reason for Hike in XRP Value Explained!!!

XRP prices seem to have Spiked Lately Ripple is generating notable gains as the huge cryptocurrency market pushed higher. According to Coindelite, the XRP token attained a value of $0.8768. Coindelite figures show that Ripple rose by 20% over the last 24 hours and has climbed to its highest since …

Amazon Web Series is Making the use of Hyperledger and Ethereum easy

Amazon Web Series to Start a New service for Hyperledger and Ethereum easy Amazon Web Services has recently announced the service it is going to launch out-of-the-box a blockchain service for Ethereum and Hyperledger Fabric protocols. AWS chief evangelist Jeff Barr wrote in a blog post: “Recently available templates allow …

Australia to Mine Bitcoins by reopening Coal Power Plant

Contract with Crypto Mining firm Signed by Australia to reopen Coal Power Plant A contract has been signed with the IOT Group, a cryptocurrency mining firm by Australia’s Hunter energy to reopen a coal power plant in the Hunter Valley Region of Australia. Although new and advancing technologies are largely …

NY Federal Reserve Chief Nominee says Cryptocurrencies can’t Replace Dollar

Digital Currencies cannot replace Paper Currency says NY Fed Chief Nominee CEO of Twitter Jack Dorsey predicted that Bitcoin would surpass all the world’s currencies in around ten years. But the man nominated to be the head of New York Federal Reserve differs. In a speech on Friday, the present …

Blue Check Mark on Twitter Doesn’t mean your Account is Safe

Bad Checks: Twitter’s Identity Crisis Costs Users More Than Bitcoin According to a Russian Writer, it’s one of crypto’s most generally embraced slogans, though one that’s becoming even more important on social media, where battling factions inclined on promoting the next big high-tech investment are presently turning the very symbols …

Bitdegree Offers Online Courses for Students with Crypto Incentives

Bitdegree a Cryptocurrency Startup Pays Students while Learning Bitdegree, a Lithuanian cryptocurrency startup wants to change the face of online education using their online platform and cryptocurrency. What is BitDegree? BitDegree an online platform with its own cryptocurrency. The firm was founded in 2017. BitDegree plans to change how education …

Press Release