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Ark Invest CEO Cathie Wood Hit Back at Jamie Dimond After JPMorgan CEO Dissed Him comments about bitcoin“>bitcoincomparing it to a “favorite rock” that “does nothing.”
Wood said the data does not support such a view and appeared to question Dimon's technological knowledge in the third in a series of tweets criticizing the JPMorgan helmsman.
Wood initially responded by referring to a tweet posted by ARK Invest Head of Digital Assets Yassine Elmandjra.
Elmandjra's post noted that bitcoin's hash rate hit an all-time high of 500 exahashes per second this month. To emphasize the importance of this milestone, he shared that, “for every star in our galaxy, the bitcoin network is computing 5 billion calculations per second.”
He added that this eclipses the capabilities of the world's most powerful supercomputer by a factor of 500.
Today, JPM's Jamie Dimon called blockchain technology small and added that bitcoin, a derivative of blockchain technology, is the equivalent of a “pet stone.” The data goes against Jamie's description, since @yassineARKour Director of Digital Assets highlights it here! https://t.co/TsSDyTTyuk
– Cathie Wood (@CathieDWood) January 19, 2024
In a separate X mailWood said bitcoin is “backed by the world's largest computer network.” He added that the network is “larger than the combined size of the clouds that Amazon, Google and Microsoft have built over the last 15 to 20 years.”
Wood continued to mock Dimon in a third post, when he referred to 2004 and JPMorgan's purchase of Bank One.
Wood recalled how excited investors were by the fact that the Wall Street giant's CEO, Dimon, “was so tech savvy,” adding that tech-oriented investors at the time “admired him greatly.”
“Jamie, I would like to introduce you to @brian_armstrong”, he added, referring to the CEO of crypto exchange Coinbase.
<h2 id="h-ark-invest-sees-btc-reaching-as-high-as-1-5-million” class=”wp-block-heading”>Cathie Wood predicts btc will reach $1.5 million
Wood predicted in an interview with CNBC on January 11 that btc could rise as high as $1.5 million in the next bull run, given the introduction of spot bitcoin ETFs (exchange-traded funds) in the United States.
Updated 2030 bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin price prediction:
Cathie Wood, CEO of ARK Invest
Bearish case: $250,000
Base case: $600,000
Bull case: $1.5 millionBig: pic.twitter.com/GjsY67i8Nj
– Altcoin Daily (@AltcoinDailyio) January 11, 2024
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