Cathie Wood who is the founder of global asset management company called ARK Investment, says Bitcoin has more upside potential due to the leading crypto asset is so much of a bigger idea than tech giants Apple or Amazon.

Cathie wood, in a new Yahoo Finance interview, explains why she believes in Bitcoin and that other cryptocurrencies also have a bright future.

We have been expecting institutions to start moving into Bitcoin and other crypto assets, but primarily Bitcoin, the most secure of the blockchains, because if you look at the correlation of Bitcoin’s performance relative to any other asset class, it has the lowest correlation, meaning if you buy some Bitcoin, you will further diversify your portfolio and increase your returns with lower risk.

Institutions look for that low correlation. Bitcoin has it. That’s clear. We have 10 years of history now.

Wood also states that institutions are heavily betting on the top dog coin with MicroStrategy & MassMutual leading the charge.

What surprised me and us, generally, was to watch MicroStrategy, which as put all the cash on its balance sheet into Bitcoin… Then you Square put 1% of all of its assets in Bitcoin and I think you’re going to see more of that. We didn’t expect that. What we did expect was, because of the low correlation of returns, institutional investors to move in. 

The most surprising one to me thus far has been MassMutual. It put a $100 million into its general account. Now its general account is enormous so a hundred million dollars is something like .001 but what that move told us is MassMutual is very conservative and very highly regulated and so it had to jump through many more regulatory hurdles… I think that it is a seal of approval.

In terms of a technological impact, the ARK Invest CEO believes Bitcoin has a much larger force than Amazon or Apple.

Bitcoin is roughly a $600 billion dollar market cap, so not even half the size of Apple or Amazon, put it in perspective and yet it has a really big idea. I think a much bigger idea than Apple or Amazon. It’s the first truly global, digital currency out there and it is completely decentralized. There’s no throat to choke…

When China basically shut down the exchanges in China that dealt in crypto, especially Bitcoin, that activity just moved over to Japan, Thailand and Korea – other countries that wanted to move ahead in this innovation space. They did not want to miss this next big thing.

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