Cathie Wood Blasts 'Sell First' Investors as Bitcoin Sees Volatility
Cathie Wood, CEO of Ark Invest, has expressed concern about the behavior of Bitcoin investors during periods of market volatility. In an interview, she stated that many investors tend to 'sell first and ask questions later,' leading to panic selling. This phenomenon was evident in recent market drops, where broad market selling affected multiple sectors, including technology and crypto.
Wood also pointed out that gold has been performing better than Bitcoin, with some investors turning to traditional safe assets during times of uncertainty. However, she questioned this trend, noting that 'gold supply growth is, we believe, accelerating.' She argued that Bitcoin's fixed supply sets it apart from gold and supports the broader uptrend.
Despite recent weakness, Wood believes that Bitcoin's long-term trend remains strong and that it acted as a safe haven during the regional bank crisis. However, she added a note of caution, saying 'it could be famous last words.' She also noted that periods like this can feel uncomfortable for investors but emphasized that volatility is a normal part of long-term market cycles.