January 20, 2024 at 4:03 am | 2 min read
Breaking 2024: SEC approves Bitcoin ETF!
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Billionair Elon Musk He was still surprised Ark Invest CEO Cathie Wood He indicated that Bitcoin (CRYPTO: BTC) “Powered by the largest computer network” in the world.
What happened: Wood expressed her support for Bitcoin despite the cryptocurrency king’s recent decline.
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See also: Cathie Wood’s Ark Invest boosts portfolio with 1% of its Bitcoin Spot ETF
Republish the analysis by Yassin Al ManjaraWood, director of digital assets at Ark Investment Management, emphasized that Bitcoin’s computer network is several times larger than the combined network of the largest players in cloud computing. This includes Amazon.com Inc, Microsoft CorporationAnd Alphabet company Google.
This impressed Musk, who said, “Awesome.”
According to Elmandjra, Bitcoin’s hash rate reached an all-time high of 500 exahashes per second this month.
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why does it matter: Others have echoed Wood’s argument about Bitcoin being safe.
Michael Saylorco-founder and Chairman of the Board of Directors Accurate strategy“Bitcoin is a reality. It’s a technological marvel, and people need to start realizing that it’s here to stay,” he said.
Also blast the wood JPMorgan Chase & Co CEO Jamie Dimon on his mockery of Bitcoin – he called the cryptocurrency king his “pet rock” during a speech at the conference World Economic Forum In Davos, Switzerland.
“The data contradicts Jamie’s description.”
Wood also has a prominent position in Bitcoin – announcing 1% of Arc the next generation of online ETFs (NYSE:ARKW) funds are invested in Arc 21 Bitcoin Stock ETF (Bat: ARKB).
Price movement: At the time of writing, Bitcoin is trading at $41,546, up 1.10% over the past 24 hours, according to Benzinga Pro.
Read Next: Betting on Bitcoin: SEC Opens Up for Opinions on BlackRock ETF Options
Image courtesy: Shutterstock
Breaking 2024: SEC approves Bitcoin ETF!
Over 30,000 investors trust our exclusive cryptocurrency insights report, 3 new weekly stock ideas, and in-depth analysis. Get your weekly report now!
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