Ark Invest CEO Cathie Wood made waves last Month by sticking to her bullish stance. Bitcoin. Despite cryptocurrency dropping more than 60% over the past year to below $17,000, she is confident. predicted It would reach $1 million by 2030, she said. This is a repeat of a call her firm made in April.

She expressed her confidence in continuing to do so this weekend Bitcoin FTX founder Sam Bankman-Fried was also criticised for not sharing the data. 

FTX collapsed abruptly last month, shaking confidence within a sector already in turmoil. “crypto winter.”

Wood will be open Saturday tweeted, “The Bitcoin blockchain didn’t skip a beat during the crisis caused by opaque centralized players. No wonder Sam Bankman Fried didn’t like Bitcoin: it’s transparent and decentralized. He couldn’t control it.”

Wood shared a link to a Bitcoin report Her firm stated:

“Despite market volatility associated with FTX’s demise, the supply held by long-term holders—or the supply last moved 155 days ago or more—closed flat for the month of November. We believe this datapoint indicates holders’ long-term focus and high conviction, despite recent events. Today, long-term-holder supply is 72% of bitcoin’s total circulating supply.”

A Bitcoin maximalist’s view of FTX

One of those long-term Bitcoin MicroStrategy CEO Michael Saylor was the holders. Saylor describes himself as “a person who is able to help people.” Bitcoin maximalist. He also commented on the FTX fiasco.

“You have the Bitcoin community opposite the crypto community, and there’s been a low-grade, sort of boiling guerrilla war between the two camps for the past two and a half years,” he said this week The following are the PBD Podcast. “And Sam is kind of like the poster child of the crypto world.”

Bankman-Fried, and his ilk, were always guilty “shitcoinery,” he Or of “pumping and promoting unregistered securities…It’s unethical if you think, ‘I am front-running my customers, issuing a token, manipulating the price of the token, and dumping it on them.’”

Wood speaks out about the FTX’s collapse. told Bloomberg This was the last month Bitcoin “is coming out of this smelling like a rose,” As well as Ether, the second largest cryptocurrency market cap.

“Yes, a lot of people have lost a lot of money. The crypto asset ecosystem is losing value here. But if we’re right on the underlying technology and the underlying roles that Bitcoin and Ether, Ethereum, are going to play in this new world, then I think we’re going to recover pretty quickly.”

Vitalik Buterin, co-founder of Ethereum, stated last month that the collapse in FTX had taught him valuable lessons.

“What happened at FTX was of course a huge tragedy,” he Bloomberg. “That said, many in the Ethereum community also see the situation as a validation of things they believed in all along: Centralized anything is by default suspect.” Those beliefs also include putting one’s trust in “open and transparent code above individual humans.” 

Many prominent business leaders remain skeptical about both. Bitcoin and other cryptocurrencies, of course, among them JPMorgan Chase CEO Jamie Dimon and Berkshire Hathaway’s Charlie Munger, who last month called them “partly fraud and partly delusion.” Mark Mobius is the billionaire cofounder of Mobius Capital Partners. He recently predicted that Bitcoin will drop to $10,000 next year—in May, he correctly predicted the cryptocurrency’s fall to $20,000.

The Sunday Review Bankman-Fried was not immediately available for comment.

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