Cathie Wood Slams Calacanis for Undervaluing Bitcoin

ARK Invest CEO Cathie Wood has responded to venture capitalist Jason Calacanis's comments on Bitcoin, calling them 'unfair'.

Calacanis had described the recent price move of BTC as a 'dead cat bounce', but Wood countered that 'Bitcoin is not a dead cat, Jason! It has many lives ahead.'

This exchange comes after Bitcoin's sharp recovery above $80,000 last week. Calacanis had also compared Bitcoin to CDs in the Spotify era and DVDs in the Netflix era, stating it was now a 'store of value' rather than a revolutionary technology.

However, Wood argued that Bitcoin's role as 'digital capital' was itself its killer application. She pointed out that preserving wealth across generations is a bigger ambition than entertaining a dinner party.