Bitcoin hit a historic milestone today by surpassing the $100,000 price mark, but ARK Invest CEO Cathie Wood said it was still “early days” for the cryptocurrency and that its future remained bright. Writing on the X platform, Wood congratulated the industry on the new winds of progress, with Trump nominating crypto-friendly Paul Atkins to succeed Gary Gensler as the new chairman of the Securities and Exchange Commission. She also mentioned that Federal Reserve Chairman Powell compared Bitcoin to digital gold and made some comparative observations about Bitcoin and gold.
Wood compared the size of the Bitcoin market to that of spot gold, highlighting that the market size of gold reached $15 trillion at a price of $2,700 per ounce. Bitcoin’s current market value of about $2 trillion has huge potential compared to gold’s $15 trillion market. Wood hinted that Bitcoin is a bigger concept than gold, given its digital and borderless nature. (Cointelegraph)