Industry News

Cathie Wood attracts attention with her statement in B-conference

TL;DR Breakdown

  • In the conference held on Wednesday, people expected a debate on Bitcoin’s existence.
  • From scaling to a unique value proposition, Cathie wood seemed to know everything about Bitcoin.
  • Elon seems to have lost his magic touch with crypto as Cathie Wood’s statements have stormed the internet.

When a conference was announced that would mention Bitcoin‘s potential, all ears were at attention. The conference was held on Wednesday, eventually gathering a huge amount of attention.

Elon Musk, the founder and CEO of Tesla, Jack Dorsey, the CEO of social media giant Twitter, and the CEO of Ark Invest LLC, Cathie Wood, were present to debate the world’s first cryptocurrency, Bitcoin.

A direct clash did not happen, but contrasting remarks were made by the CEOs to each other’s beliefs and views on cryptocurrencies.

Cathie Wood explains Bitcoin’s existence

Square Crypto’s Steve Lee presented a question to Cathie Wood wherein he wanted to know why Cathie developed an interest in cryptocurrencies, especially Bitcoin.

She replied that it was her mentor, the famous Arthur Laffer, from whom she developed a liking for Bitcoin as he considered them the technology that he was looking forward to for his entire career.

Musk stated that Dogecoin provides better scalability, speeds, and lower rates but was unable to justify the fact that if changing the fundamental layer for BTC would affect BTC monetary policy, functionality, and security.

Cathie Wood retaliated that Musk wasn’t considering or providing anything in the conference as adding layers was already considered previously by Bitcoin Cash. Cathie explained that Bitcoin, as a store of value, can’t be tampered with.

This post was last modified on July 24, 2021 9:05 pm

Parth Dubey

A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? I love cryptocurrencies.

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