Cathie Wood, CEO and CIO of Ark Investment Management, and reporters from the Wall Street Journal and Bloomberg shared their views in the most recent edition of Charlie Rose; the PBS interview show that be presented since 1993.
At the beginning of the interview, Wood comparing the overall market capitalization of Bitcoin (including that of Bitcoin Cash to the market capitalization of other major companies like Apple and Amazon, said:
“The network value of Bitcoin when you include Bitcoin and Bitcoin Cash is little over $100 bln. Therefore, it has come up, and it has come very fast. But it’s at a fraction of Apple’s valuation, of Amazon’s valuation, and we think it is a much bigger idea than either of those.”
During the interview, the discussion went on the ways that Bitcoin will fluster the banking system. The Bitcoin’s feature of trustless transactions has created an anti-Bitcoin climate among banking executives according to the three participants of the interview. However, Wood stated:
“This actually is increasing the public’s interest in [Bitcoin]. Therefore, you have Jamie Dimon – very public figure, very well known – along with Howard Marks of Oaktree…all negative. Interestingly, the following week after Jamie’s comment, James Gorman, CEO of Morgan Stanley…speaking about it in very different tones. And I think it’s because they’re beginning to see trading opportunities.”
Lastly, it is evident that financial world has begun to take on new properties, that no one has imagined. Comparing the technology to VOIP, Wood remarks that no one understood that voice transmissions could be free over the internet, but now they are. Eventually, “money over IP will be free as well.”