ARK Invest CEO Cathie Wood joins CNBC’s ‘Halftime Report’ to share her expectations for the spot bitcoin ETF approval and more.
>>> WELCOME BACK. BITCOIN IS HIGHER TODAY. LET’S GET TO BOB WITH TODAY’S EFT EDGE AND SPECIAL GUEST. >> IT HAS BEEN TEN YEARS IN THE WAITING, TEN YEARS, BUT CRYPTO ENTHUSIAST THINK IT WILL BE APPROVED, AND FIRST IN LINE IS CATHIE WOOD. SHE JOINS US NOW.
GREAT TO SEE YOU. >> THANK YOU. >> IT WAS THE TWINS THAT FILED FOR THE FIRST EFT APPROVAL, AND DO YOU BELIEVE YOUR APPLICATION WILL BE APPROVED AND WHY DO YOU THINK SO? WHAT KIND OF NEGOTIATIONS HAVE BEEN IN? >> WE THINK THE PROBABILITY IS
VERY HIGH THAT BITCOIN ETFs WILL BE APPROVED THIS WEEK. THE REASON IS WE HAVE BEEN SAYING, YOU KNOW, THE SEC AFTER DENNING AND DENNING A NUMBER OF TIMES STARTED ASKING QUESTIONS, VERY GOOD QUESTIONS, VERY DETAILED QUESTIONS AND TECHNICAL QUESTIONS. I THINK THEY HAVE ASKED ALL THE
QUESTIONS THEY NEED ANSWERED. I THINK MOST OF US HAVE PROBABLY BEEN PART OF THAT — HAVE BEEN PART OF THAT, UH, PROCESS. >> LET’S ASSUME THEY APPROVE YOUR APPLICATION. WHAT KIND OF IMPACT WITH A BITCOIN EFT HAVE? WE HAVE NOTICED THIS RUNOFF FROM 30,000 TO OVER 40,000, AND ALL
OF THIS IS IN ANTICIPATION OF A SPOT BITCOIN EFT. COULD THIS BE A SELL ON THE NEWS EVENT? WHAT HAPPENS FROM HERE? LET’S ASSUME THIS IS APPROVED? >> SURE. I THINK SO MANY PEOPLE ARE EXPECTING NOW A SELL ON THE NEWS THAT WE MIGHT NOT HAVE A SELL ON
THE NEWS BECAUSE, YOU KNOW, ONCE YOU HEAR THAT ENOUGH, THAT POSITIONING IS ALREADY TAKING PLACE. WHO KNOWS? IT’S A SHORT-TERM. WITH OUR INVESTMENT TIME HORIZON, WE THINK THE FLOW IS INTO THIS NEW ASSET CLASS, ESPECIALLY INSTITUTIONAL FLOWS BUT ALSO RETAIL FLOWS.
RETAIL HAS LED THE CHARGE, OF COURSE, THAT THEY WILL BE QUITE SUBSTANTIAL. IT WON’T TAKE MUCH OF AN ALLOCATION BY INSTITUTIONS INTO BITCOIN TO DRIVE WHAT IS BECOMING A SCARCE ASSET MUCH HIGHER. >> YOU RECENTLY SOLD BITCOIN STOCK, AND WHAT — FLUSH OUT
YOUR IDEAS FOR US A LITTLE BIT? >> YOU HAVE SEEN US TRADING AROUND TESLA, AND NOW TRADING AROUND COIN BASE, AND A LOT OF GOOD NEWS IS IT BECAME THE LARGEST STOCK IN OUR FLAGSHIP PORTFOLIO. IN TERMS OF BITCOIN, WE HAVE
THREE VERY BIG REASONS FOR IT TO CONTINUE TO MOVE HIGHER. ONE, IT IS DIGITAL GOLD. GOLD IS A $12 TRILLION ASSET. I THINK BITCOIN MIGHT BE UP TO $800 BILLION RIGHT NOW. WE DO THINK THERE’S SOME SUBSTITUTION TAKING PLACE, AND THE INSTITUTIONAL FLOWS, IF THE
ALLOCATIONS WERE AS LITTLE AS 2.5 TO 5%, WHICH IS WHERE WE THINK THEY WILL END UP, AND YOU WILL SEE .5 AND THEN 1%, YOU WILL SEE A LEGGING IN, AND THAT COULD BE THE BIGGEST REASON FOR A BITCOIN TO GO UP, BECAUSE WE
ARE AT 19.5 MILLION BITCOIN OUTSTANDING ALREADY, AND 15 BILLION ROUGHLY ARE IN LONG-TERM HANDS, THEY HAVE NOT MOVED THEIR BITCOIN IN MORE THAN 155 DAYS,
40 Comments
from a scam ( Jamie Dimon ) to etf…. research watch going on behind the curtains.
These imaginary things are scary. Gambling on virtual reality.
2 tha moon
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Idk about price, but Im going with AMS65X$. I feel that regardless of gains and losses my funds are safe.
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I really appreciated this video, as a medium-term AMS65X$ holder. I know you commented on not many people paying attention to this, but it was very relevant for holders such as myself. After watching your thoughts, I willbuy more. I also remember your ear
If SEC do not approve they have been holding meetings in bad faith.
January 5, 2024
Wells Fargo gave Carnival Corporation (CCL) an "Overweight" rating and a price target of $22 per share. Based on 15 Wall Street analysts offering 12 month price targets the high price forecast is $25.00 representing a +49% increase from the last price of $16.77.
Carnival Corp. reported record fourth-quarter and full-year 2023 revenue while forecasting another strong year in 2024.
Revenue totaled $5.4 billion in the fourth quarter, up 40% from the year-ago quarter and nearly 13% higher than the same period in 2019, right before COVID brought operations to a halt. Full-year revenue hit a record high of $21.6 billion as consumers unleashed pent-up demand—and savings—on travel
Thanks for the continuous update! I am super excited about how my stock investment is going so far, making over 18k weekly is an amazing gain🥰🥰🎉🎉🎉
Bitcoin is Gold 2.0
To the Moon 🌚 with Bitcoin, let’s all get rich!
Elon better keep his mouth shut 🤐
Cardano (ADA) is the coin to be buying
Sec knows that if they don't allow Bitcoin ETF than gold will sky rocket 🚀🚀 so they know what the right thing to do is
Hilarious to see all the CNBC pundits cheerleading Bitcoin after 8+ years of down talking it and denying it’s potential
I am long term BTC but I have a feeling they will dump on us
Backrock applied so obviously now they are warming up 😂
Approve Grayscale, not this ARC stuff.
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Idk about price, but Im going with AMS65X$. I feel that regardless of gains and losses my funds are safe.
I really appreciated this video, as a medium-term AMS65X$ holder. I know you commented on not many people paying attention to this, but it was very relevant for holders such as myself. After watching your thoughts, I willbuy more. I also remember your ear
If you want to do one thing right this year you have to check AMS65X$.
If they don’t make it who else would? AMS65X$.
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Has to be the worst argument Cathie! In early days of Bit Coin Whitepapers hundred million bit coins were created by hacker and moved to wallet. Without proven supply this isnt valid point.
The rich stay rich by spending like the poor and investing without hesitating then the poor stay poor by spending like the rich yet not investing like the rich
Bitcoin is the "Treason Coin" and a "Sell out" of America and it's USD system and functions. Bitcoin was inflated through almost $2 Trillion dollars of Taxpayer Stimulus checks gambled on crypto in the fall of 2020 after the pandemic start. Are we sure that 13 Spot Bitcoin ETFs will not negatively affect 401k inflows into US Treasury bond sales weekly multi-billion-dollar auctions? US Treasuries sales support our deficit spending and debt servicing, Bitcoin is an 'inverse war bond' and is 'Risk on for America'. If you can't sell US Treasuries you can always raise taxes! How is Bitcoin good for America? America will 'fall from enemies within' and Bitcoin is the instrument used, one sellout at a time, as we realize Patriotism is DEAD.
Cathie Wood's ARKK shows almost catastrophic performance when compared to even the S&P500.
Why would people listen to her???🤣🤯
In life, I will forever be grateful for health, wealth and a great professional whose help has been great for my finances.
I've just shared your video with my entire family!
Great content!! depending on this current administration is a total failure I really have a question For someone with less than $15,000 to invest, how would you recommend we enter the crypto market? I am at studying some traders and copying their strategy rather than investing myself and losing money emotionally what's your take on this?
I've been hearing Cathy citing her 5-year investment horizon since the ARK funds began trading. Her 5-year clock starts over with each interview🙂
not your key not your coin.