Cathie Wood Says Bitcoin Is 'More Scarce Than Gold' — Predicts M&A Surge Under Trump 2.0
- December 20, 2024
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Cathie Wood , the founder of Ark Investment Management LLC , predicts a surge in mergers and acquisitions after President-elect Donald Trump defeats Vice President Kamala Harris in the 2024 election.
What Happened : “M&A has been prevented by the FTC. That is going to change,” Wood, popularly known for leading ARK Innovation ETF (NYSE: ARKK ) said in an interview with Bloomberg Television on Thursday.
The seasoned investor continues to maintain her optimistic view on cryptocurrencies, projecting that Bitcoin (CRYPTO: BTC ) may hit $1.5 million by 2030. Wood highlighted how Bitcoin is becoming “more scarce than gold,” pointing out that after the April halving, its annual supply increase has decreased to 0.9%.
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According to Wood, production rises in tandem with the price of gold. Bitcoin prevents that from occurring.
Her remarks come as Bitcoin has gained 120% this year and is now trading above $100,000. Wood highlights Bitcoin’s fixed supply cap of 21 million coins and credits the surge to increased institutional interest and regulatory certainty.
The emergence of Bitcoin ETFs has significantly increased retail investor interest, with prominent offerings such as iShares Bitcoin Trust (NASDAQ: IBIT ), Grayscale Bitcoin Trust (NYSE: GBTC ), Fidelity Wise Origin Bitcoin Fund (BATS: FBTC ), ARK 21Shares Bitcoin ETF (BATS: ARKB ), Bitwise Bitcoin ETF (NYSE: BITB ), Grayscale Bitcoin Mini Trust (NYSE: BTC ), ProShares Bitcoin ETF (NYSE: BITO ), and Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS: BITX ), providing various options for investors seeking exposure to the cryptocurrency market.
See Also: Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence.
Why It Matters : The Ark Innovation ETF manager, known for her high-conviction bets on disruptive technology , has recently adjusted her fund’s positions. ARKK sold 14,016 shares of Tesla Inc. (NASDAQ: TSLA ) at $436.17 and 33,402 shares of Palantir Technologies Inc. (NYSE: PLTR ) at $74.21 on Thursday.