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Cathie Wood Says Bitcoin ‘Owns The Cryptocurrency Space’ — Here Is Why The Ark CEO Differs With Tom Lee On Ethereum

CryptoCathie Wood Says Bitcoin 'Owns The Cryptocurrency Space' — Here Is Why The Ark CEO Differs With Tom Lee On Ethereum

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Veteran investor and cryptocurrency advocate Cathie Wood referred to Bitcoin (CRYPTO: BTC) as the “pure cryptocurrency” in an interview aired Saturday, indicating that it will always have an edge over Ethereum (CRYPTO: ETH).

Speaking to Wilfred Frost on The Master Investors podcast, the Ark Invest CEO expressed confidence that Bitcoin would be the “biggest” cryptocurrency by far.

“Bitcoin owns the cryptocurrency space when it comes to pure crypto,” Wood added. “It’s a monetary system, rules-based. The rule is the quantity theory of money.”

Wood highlighted Bitcoin’s capped supply at 21 million as one of its biggest advantages.

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When asked about Wall Street analyst Tom Lee’s stronger bull case for Ethereum, Wood stated, “We would differ.”

“It [Bitcoin] is also a technology, a layer one blockchain technology that has never been hacked. The other
blockchains cannot say that right,” Wood argued.

She acknowledged that Ethereum plays a “very important role” in decentralized finance, but faces growing competition from the Layer-2 blockchains, which end up collecting a lot of fees.

“These competing interests are maybe something that Tom and I can debate a little bit,” Wood said

In response, Lee called Wood the “GOAT” of the cryptocurrency world and praised her foresight in predicting the rise of both Bitcoin and Ethereum.

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This debate comes at a time when Ethereum’s potential is being widely discussed. Lee, who chairs ETH treasury company Bitmine Immersion Technologies Inc. (NYSE: BMNR), outlined earlier this month how Ethereum could reach a value of $62,000 per token, using historical price bases and the Ethereum-to-Bitcoin ratio. He also highlighted Ethereum’s potential as financial infrastructure.


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