Cathie Wood responds to billionaire's Bitcoin warning
Veteran investor Cathie Wood is one of the strongest believers in Bitcoin (BTC), and as criticism around its long-term value grew amidst the price decline, she couldn’t hold back from doubling down on her belief in the leading cryptocurrency.
Related: Cathie Wood sends blunt message after Bitcoin crashes
Laffont says he is worried about Bitcoin
Billionaire investor Philippe Laffont recently expressed his disappointment with Bitcoin, saying he is worried about it.
He argued that Bitcoin filled a gap in the markets when public listings were rare and index investors were hunting for a speculative asset.
But both demands are being met now: high-profile artificial intelligence (AI) and space technology companies filing for initial public offerings (IPOs) and stablecoins offering rewards resembling interests, he highlighted.
“I would rather bet on space going to quadruple over the next 20 years,” the Coatue Management founder said.
Laffont has more than often admitted that he was late to the Bitcoin party. In fact, he included it among a list of what he referred to as “Fantastic 40” companies by 2030.
But now, the billionaire is worried about Bitcoin.
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Wood hits back at Laffont’s Bitcoin warning
Wood dismissed Laffont’s concerns around Bitcoin, arguing capital outflows from less stable countries will “light another fire” under Bitcoin and other digital assets.
In an X post on June 27, the ARK Invest CEO said though AI has sucked a lot of oxygen out of the investment world, it can’t act as the “insurance policy” protecting wealth that many are seeking right now.
Wood is one of the pioneering crypto investors, claiming that ARK Invest was the first public asset manager to gain Bitcoin exposure in 2015.
Back then, the cryptocurrency wasn’t worth even $500, and the move provoked sharp criticism from the industry.
But Bitcoin kept reaching new record high prices in the coming years, with Wood predicting it will hit $1.25 million.
ARK Invest also keeps trading the shares of leading crypto companies such as Coinbase Global (Nasdaq: COIN), Robinhood Markets (Nasdaq: HOOD), Block (NYSE: SQ), Bitmine Immersion Technologies (NYSE: BMNR), and Bullish (NYSE: BLSH).
Bitcoin, which hit the all-time high (ATH) of $126,080 on Oct. 6, 2025, is currently trading 50% lower below $60,000. But Wood is confident in its prospect, predicting a turn in the cryptocurrency’s fortune in time.