Cathie Wood Calls Bitcoin’s 50% Crash a “Victory” as Market Tests New Floor
Cathie Wood views Bitcoin's 50% crash from its peak as a sign of market maturation, suggesting more moderate declines than in past cycles.Summary
Cathie Wood, CEO of ARK Investment Management, considers Bitcoin’s recent 50% drop from its all-time high a “victory,” indicating a shift towards less extreme volatility. Historically, Bitcoin experienced drawdowns of 85-95% in earlier cycles, but Wood believes such severe collapses are now less likely, citing Bitcoin’s evolution as a “proven technology” and “new asset class.” Despite the downturn, ARK Invest continues to trade crypto-related equities. However, the price decline is prompting some public companies and sovereign entities to unwind their BTC treasuries to manage liquidity and debt, including firms like Riot Platforms and Marathon Digital, though public companies still hold over 5% of the total Bitcoin supply.
(Source：Bitcoin Magazine)