Bitcoin Bull Cathie Wood’s Company Speaks About BTC For The First Time After The Fall – Still Bullish?

Cathie Wood`s investment firm Ark Invest maintains a bullish position on Bitcoin despite the market experiencing a pullback in March. The firm, which manages $6 billion in assets, reassured investors with a note that its long-term outlook for BTC remains optimistic. “We believe policy changes and technological breakthroughs in areas such as artificial intelligence and robotics are revitalizing spending and boosting productivity,” Ark Invest said. While the firm did not provide specific details on how AI and robotics will increase Bitcoin’s value, previous research has suggested that the convergence of AI and cryptocurrencies could add $20 trillion to the global economy by 2030. Related News: BREAKING: Coinbase Announces It Will List a New Altcoin Ark Invest also pointed to deregulation and tax cuts as potential catalysts for Bitcoin’s recovery from recent market volatility. US President Donald Trump has vowed to cut taxes and ease crypto regulations, moves that could significantly impact investor sentiment. Despite these promises, Bitcoin fell below $80,000 this week for the first time since November. Investor sentiment continued to falter on Monday as market participants pulled $430 million from U.S. spot Bitcoin exchange-traded funds (ETFs). Ark Invest’s own Bitcoin ETF, ARK 21Shares, led the decline with $147 million in outflows, according to Coinglass. The firm currently operates six cryptocurrency ETFs. Despite these challenges, Ark Invest believes the market is entering an extremely bearish period. “In our view, the market has turned too pessimistic in response to current macroeconomic and geopolitical sentiment,” the firm wrote. *This is not investment advice. Continue Reading: Bitcoin Bull Cathie Wood’s Company Speaks About BTC For The First Time After The Fall – Still Bullish?

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