Cathie Wood Bullish On Bitcoin-AI Convergence
Authored by Amaka Nwaokocha via CoinTelegraph.com,
In a recent X (formerly Twitter) post, Cathie Wood, the CEO of ARK Invest, expressed her optimistic view on the intersection of Bitcoin and artificial intelligence (AI).
In the post, Wood hinted at the transformative potential in the dynamic synergy between AI and Bitcoin, emphasizing the possibilities and positive implications the technologies hold for diverse industries and the overall economic landscape.
The convergence between Bitcoin - and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating. Look for this podcast on Thursday! https://t.co/kPW92CuhFQ
— Cathie Wood (@CathieDWood) September 2, 2023
Backing Wood’s optimistic outlook is a research document published by ARK Invest titled “Investing In Artificial Intelligence: Where Will Equity Values Surface?,“ suggesting that both Wood and ARK Invest are assessing the significance of AI within investment strategies.
"...tech’s center of gravity is shifting dramatically. Large language models are presenting super-exponential growth opportunities that could leave mega-cap tech companies flat-footed."
Throughout the years, Wood has allocated investments to various AI-related stocks, demonstrating her strong belief in the rising technology.
Wood’s well-known enthusiasm for Bitcoin is evident through ARK’s endeavors concerning a Bitcoin exchange-traded fund (ETF). Furthermore, ARK is no stranger to digital asset sector investments, with substantial holdings in Coinbase and Robinhood.
The document also highlights ARK Invest’s strategies that have reaped rewards from investments in artificial intelligence tech stocks. The ARK Disruptive Innovation ETF, dedicated to AI and other pioneering technologies, outperformed the Nasdaq 100 Index, achieving a significant mid-year profit of 41.2%.
Wood’s post, along with ARK’s research, illustrates the growing influence of AI in the realm of investments. The fusion of Bitcoin and AI can potentially trigger a transformation in corporate operations, potentially reshaping productivity and cost dynamics. As investors explore fresh avenues for growth, Wood’s nod to Bitcoin and AI could see more investment flowing into the two technologies in the future.
