Cathie Wood "Ethereum cannot surpass Bitcoin"

Doohyun Hwang

Summary

Cathie Wood, CEO, said that interest in Ethereum has recently been growing.
However, she said she still prefers Bitcoin, noting strengths such as a rule-based global monetary system, no history of being hacked, and being the first to create an asset class.
Wood said that despite Ethereum's advantage of supporting decentralized finance (DeFi), it faces fierce competition from Layer 2 projects.

Cathie Wood, founder and CEO of ARK Invest, acknowledged that interest in Ethereum (ETH) is growing but drew a line, saying it cannot replace Bitcoin (BTC).

Wood said in an interview on the podcast 'Master Investor' on September 27 (local time) that 'interest in Ethereum has recently grown to the point of buying Bitmain stock,' but 'I still prefer Bitcoin because it will continue to expand.'

Wood cited Bitcoin's strengths as ▲ a rule-based global monetary system ▲ a Layer 1 network that has never been hacked ▲ the first platform to create a completely new asset class. Wood emphasized that 'Bitcoin has established a unique position as a solid Layer 1 asset.'

Wood also pointed out that Ethereum, despite its advantage of supporting decentralized finance (DeFi), faces fierce competition from Layer 2 projects. These remarks by Cathie Wood are interpreted as showing that Bitcoin's status as 'digital gold' remains firm even as interest in a spot Ethereum ETF rises.

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