Cathie Wood Bitcoin “We Have NEVER Been More Bullish Than Right Now” 2024 BTC Prediction

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ARK Invest’s Cathie Wood first bought Bitcoin for her investors back in 2015. At the time Bitcoin was only $250 and Cathie was one of the first institutional investors to recognise the opportunity.

Despite buying so early and nearly holding for 10 years now, Cathie states that she has never had more conviction in Bitcoin than right now.

Cathie points out in 2023, Bitcoin turned a corner.

No longer is it being recognised as just a RISK on asset, but it’s also a risk off asset, able to protect your wealth longterm not just against counter party risk, but also inflation and the devaluation of the dollar.

Make sure to stick around to the end of the video where Cathie and her head Bitcoin Analyst, Yassine Elmandjra, break down why they have never had more conviction in Bitcoin right now, and why over 75% of the Bitcoin supply is being held by long term holders.

About Cathie Wood:

Catherine Duddy Wood is an American investor and the founder, CEO and CIO of Ark Invest, an investment management firm.

CREDITS:

To watch the full un-edited interview featured (and subscribe to a great finance resource!) check out:

ARK Invest

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Cathie Wood Bitcoin “We Have NEVER Been More Bullish Than Now” 2024 BTC Prediction

And that is that Bitcoin is a risk on asset but it is a risk-off asset as well and if there are going to be bankruptcy problems out there uh then having a vehicle with no counterparty risk in your in a portfolio will become more and more important over time uh and we took

Our first position giving our clients exposure to Bitcoin in September of 20 5 when Bitcoin was roughly $250 and it was really interesting at that time we had been around for roughly a year a little more than a year as a firm and when we put Bitcoin in the

Portfolio I remember the media some people in the media were saying oh well that’s great they’re just trying to get attention this is a great marketing gimmick and that’s when I realized oh my gosh this could be even bigger than we think people are making fun of us

And uh and so uh there began our journey and we’ve been there ever since and I can tell you our conviction has never been higher arines Kathy Wood first bought Bitcoin for her investors back in 2015 at the time Bitcoin was worth only $250 per coin and Kathy was one of the

First Institutional investors to recognize the opportunity despite buying so early and nearly holding for 10 years now Kathy states that she has never had more conviction in Bitcoin than right now Kathy points out in 2023 Bitcoin turned a corner no longer is it being recognized as just a risk on asset but

It’s also a risk off asset able to protect your wealth longterm not just against counterparty risk but also inflation and the devaluation of the dollar make sure to stick around to the end of the video where Kathy and her head Bitcoin analyst Yen Alandra breaks down why they have never had more

Conviction in bit coin and why over 75% of the Bitcoin Supply is being held by long-term holders also guys if you want to stay most up to date on the crypto and Bitcoin World make sure to subscribe to my daily 5minute crypto newsletter it gives you the latest Expo predictions

Any breaking news and top on chain analysis all in a nutshell click the first link in the description to join Over 40,000 others in becoming a better crypto invest right now now here’s Kathy Wood with her Bitcoin outlook for 2024 my with Bitcoin goes back to

2011 uh before we started Arc uh Brett Winton and I were at another firm and we were talking about this curiosity called Bitcoin during our research meetings uh and then when I founded Arc in 2014 uh Brett uh joined me and uh we decided not to split the Next Generation

Internet which was a big theme of ours into what has become uh uh Bitcoin crypto assets digital assets generally and artificial intelligence uh but when we understood I in 2014 and 15 as we did our first white paper how big this was going to be and we and we really learned

It with art laugher uh who’s been my mentor throughout the years from an economics point of view he’s a good friend uh and I just uh wanted to share this concept with him and then when he found out what it really was he did want to collaborate on the paper with us and

So our first white paper was in 2015 uh and we took our first position giving our client exposure to Bitcoin in September of 2015 when Bitcoin was roughly $250 and it was really interesting at that time we had been around for rough l a year a little more than a year as a

Firm and when we put Bitcoin in the portfolio I remember the media some people in the media were saying oh well that’s great they’re just trying to get attention this is a great marketing gimmick and that’s when I realized oh my gosh this could be even bigger than we

Think people are making fun of us and uh and so uh there began our journey and we’ve been there ever since and I can tell you our conviction has never been higher yes when we took our first position it got a lot of publicity and it was highly criticized H especially

From other uh Asset Management firms I would say uh and so we were watching Bitcoin like a hawk and and uh there was the European sovereign debt crisis uh threatening to rear its ugly head again and so we were watching what happened to the Bitcoin price as the markets

Elsewhere where whether they’re the B Sovereign wealth bonds or the stock markets themselves uh were imploding at times and Bitcoin was inching up and we thought oh that’s so interesting and we began to think okay could Bitcoin be not only a risk on asset but a riskof asset and it’s the

First time uh that I remember saying you know this could be a hedge against counterparty risk in uh in an implosion of the financial ecosystem and it was acting that way so most people as they were being introduced to bitcoin were introduced to it as an inflation hedge a hedge against

Inflation uh we were looking at the sovereign debt crisis and saying wow it’s behaving very interesting this is the threat of deflation and it’s doing very well and then of course we had uh The Sovereign I mean the Regional Bank crisis this year and uh lo and behold it was uh a

Especially after 2022 where we had teral Luna Celsius uh uh uh three arrows FTX uh you know basically going under uh and here as the Regional Bank index in the United States was imploding actually Bitcoin went up 50% and then we said aha there was a

Trace of this back uh during the the 2015 time period but this was hey Bitcoin now we know is not only a a risk on asset uh and does very well typically uh as um as as some other markets are doing well but it it it charts its own

Course uh and it is also a riskof asset how many assets are there like that out there uh so big aha moment last year uh to help people understand first of all what were we saying about FTX and all of the the bad news last year we basically

Said this is proving the point the reason Bitcoin is important FTX was completely centralized yep completely opaque and it turns out completely fraudulent right uh and what do we have in Bitcoin it is completely decentralized completely transparent by digital wallet address and uh and basically a giant neighborhood watch system because there

Are so many people watching now people’s who people whose livelihoods depend on this not just in the developed world but especially in the Emerging Markets uh so it helped us prove the point and then on deflation what what was that point well there is no counterparty risk uh with this

Transparent uh um uh decentralized ecosystem unlike our banking system Circa 0809 counterparty risk was the reason uh the financial markets seized up and were paralyzed and why the the financial authorities and fiscal authorities had to come to the rescue that will not happen with Bitcoin I think you know you

Have the Bitcoin spot ETF approval you have institutional acceptance you obviously have the Bitcoin having and maybe we can we can end on that note this this this uh Bitcoin having which is a scheduled event that occurs approximately every four years uh is is expected to occur in in April April of

This year um and I think it’s it’s it’s quite a provocative event in that it it reinforces Bitcoin scarcity and that it is effectively the most predictable monetary system relative to its monetary policy uh the world has has ever seen um so so see just to get to to help explain

That a little bit that having means the rate of growth in Supply is going to be cut in half is it to 0 .4 or 0.5% so reduced from about 1.8% to 0.9% so% inflation per year per year which means which means if you compare this to gold gold supply has increased on

Average roughly 1% per year bitcoin’s Supply growth is going to drop below that we believe this year and then maybe to wrap it up I think what’s a really interesting Dynamic that we haven’t seen in previous Market Cycles is the buyer and seller Behavior broadly is much more long-term focused than it’s

Ever been uh this chart it it shows the chart of total long-term holder Supply overlaid by bitcoin’s price um which now stands at around 15 million or 76% of Bitcoin circulating Supply so in other words we’re basically saying that 76% of Bitcoin Supply are held by long-term holders the suggests that the

That that 76% is locked uh in a way that you’re not you’re not going to see a marginal demand uh be be absorbed by by this the supply the supply is relatively finite relative to what we’ve seen in previous Market Cycles uh it’s interesting to note here as well that in

In Market tops or in really bull markets we see a decline in that uh long-term holder Supply largely because long-term holders are taking profits here we have yet to see that decline which again denotes that you know despite being up you know several 100% in a year to dat

Or in 2023 that we’re still likely not in sort of euphoria territory and that this might actually be just the beginnings of a bull market if we were to look at long-term holder Supply as a as a proxy for um as a proxy for risk on versus risk-off narrative the the thing

That strikes me about this is is just to you know you you said it 70 5% of the outstanding supply of Bitcoin is in the hands of long-term holders and I think what that means is this a they’ve held it have not moved it in about a year or

It’s over it’s about over a little over six months the year Supply that’s about 56% of total supply has not been has not been moved in over a year uh but we used her istics where this this that six-month threshold tends to be the long-term versus short short-term demarcation

So so there I’m just looking at the number here about 15 million of the the Bitcoin Supply out of 19 A5 million outstanding is in the hands of stron holders and uh and we know that the total Supply ever is going only to 21 million

So Pro to pry it out of the hands of these long-term holders now that institutions are going to be given we believe the green light by the SEC uh in we we hope and believe the next week um the price uh they’re go that they’re going to De demand now that

This asset is so scarce and and the push in from institutions uh it won’t happen all at once right away you know there are lots of boxes to check and so forth um but uh I think the long-term holders understand there’s a big buyer on the

Way here so there’s Arin best Kathy Wood and her head Bitcoin analyst Yen Alandra on why they have such high conviction in Bitcoin Kathy’s Journey with Bitcoin started when it was just $250 and her insights are invaluable for anyone looking to navigate the of and turbulent Waters of the crypto world if

You’re eager to stay ahead in the fastpaced world of crypto and Bitcoin don’t forget to subscribe to my daily 5minute crypto newsletter it’s packed with the latest predictions breaking news and top onchain analysis all in an easy to digest format join Over 40,000 other crypto enthusiasts by clicking the

First link in the description and becoming a more informed crypto investor today before you leave I’d love to hear your thoughts what do you think of Kathy’s outlook for Bitcoin in 2024 anyway guys hope you all enjoyed today’s video and that provided you with some

Value I’ll see you all in the next one and as always all the best