Bitcoin Defenders Push Back Against 'Dead Cat' Label

Venture capitalist Jason Calacanis recently called Bitcoin a 'dead cat' that continues to bounce, citing its lack of strong utility in transactions or smart contracts.

However, Ark Invest CEO Cathie Wood strongly disagreed with this assessment, arguing that Bitcoin has many lives ahead and is not just a boring store of value.

Wood pointed to the convergence of AI and Bitcoin as an example of its potential for growth, noting that advanced AI models can be a double-edged sword for the cryptocurrency.

Calacanis' argument was also disputed by Strategy Inc. founder Michael Saylor, who emphasized Bitcoin's evolution into an asset with a market capitalization of over $1.6 trillion since 2011.