Investor Cathie Wood On Bitcoin, Why She Sold Stocks In China, And What Her Firm Is Buying Now:
with an estimated net worth of $400 million—told the panel, moderated by angel investor and entrepreneur Jason Calacanis at PreMoney, a conference put on by venture capital firm 500 Global in Miami Beach, Florida.In September, Wood predicted that the value of Bitcoin would rise to $500,000 in five years. She remains a staunch supporter of Bitcoin, despite some in the crypto world losing their affinity for it.
Calacanis followed up: “Most tech doesn’t last more than a decade. Why would Bitcoin last any longer than that?” Wood answered: “This is the most secure blockchain technology out there. What’s going on right now would have been [Nobel Prize winning economist] Robert Mundell’s dream: to introduce a global monetary system not under anyone’s control.” She elaborated: “Look at Turkey. The Turkish people have lost half their purchasing power since February.
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Investor Cathie Wood On Bitcoin, Why She Sold Stocks In China, And What Her Firm Is Buying NowI'm a San Francisco-based Assistant Managing Editor with a focus on the world's richest people. I oversee the massive reporting effort that goes into Forbes' annual World's Billionaires list and The Forbes 400 Richest Americans list. The former gets me to use my rusty Spanish and Portuguese. In 2014, I won an Overseas Press Club award for an article I wrote about Saudi Arabian billionaire investor Prince Alwaleed bin Talal; I also won a Gerald Loeb Award with co-author Rafael Marques de Morais for an article we wrote about Isabel dos Santos, the eldest daughter of Angola's former president. Over more than two decades, reporting for Forbes has taken me to 17 countries on four continents, from the streets of Manila to palaces in Saudi Arabia and Mexico's presidential residence. Follow me on Twitter KerryDolan My email: kdolan[at]forbes[dot] com Tips and story ideas welcome.
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