저자: ZachHumphries/주출연자CathieWood · 외국인
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Cathie Wood와 ARK는 비트코인 현물 ETF 승인 이후 비트코인의 장기 상승 여력을 강조하며, 2023년 말 90%의 공급량이 수익 상태라는 온체인 지표와 강한 손(장기 보유자) 물량 증가를 근거로 제시한다. 기관 유입으로 희소성 가치가 커질 것이라고 보며, 현물 ETF 시장은 약 3개사로 consolidation될 것으로 전망한다. 뱅가드의 ETF 취급 거부는 전략적 실책이라고 비판한다. 영상 진행자는 ARK의 기관 전망과 낙관론을 긍정적으로 전달한다.
다듬은 글
so Kathy Wood super influential person when it comes to bitcoin and tech stocks and really technology as a whole had a lot of things had a lot of things to say recently about Bitcoin and we're going to dive into it this is a little bit longer video there's going to be a longer clip that shows Kathy breaking things down uh she recently went on yesterday I want to show you guys that whole clip toward the uh tail end of this video because you guys need to see it as we get ready and plan and strategize for 2024 this is going to be kind of a bitcoin price analysis with a Bitcoin kind of outlook for 2024 now that the Bitcoin ETFs have been approved so with all that being said let's not waste any more time let's Jump Right In go ahead and hit that like button for us guys down below we've got an article over on Yahoo finance talking about Kathy Wood and just what she said recently uh even as early as this morning uh regarding where she thinks Bitcoin is heading here shortterm and long-term but she says right now uh every month they compile a report that sheds light on the latest Bitcoin related developments giving short-term and long-term information that helps them gain better Insight she's always been at the Forefront of bitcoin's big moves after a solid end of 2023 Bitcoin surpass key indicators that Arc invest and its analy analyst track closely while these indicators are often used for ta and day trading they can also still benefit investors for the long-term a Buy and Hold strategy here uh still gain some insight so one of the most intriguing discoveries detailed in the report was bitcoin's Resurgence as the year closed if you guys remember those final 150 days or so were massive for Bitcoin uh bitcoin's re uh Reclamation of these critical technical levels dating back since the last Bull Run show that it's at the early to midstage of a bullish Trend so if you look at some of the data out there we're roughly about 30% into this bullish push for bitco Bitcoin and crypto while bitcoin's 50% jump in the last 3 months of 2023 led to some long-term holders beginning to sell Arc still thinks it's far from reaching its peak and they are going to be taking a basically a Buy and Hold strategy here the report highlighted that at the end of December 90% of the total Bitcoin Supply was sitting at a profit which is huge now all data on the blockchain is public we know that Arc can actually analyzed when and at what price each investor purchased and sold with this data Arc found that the last time profit levels were this high was when Bitcoin was around 58,800 back in November 2021 so there are some profit taking happening right now but at its core Bitcoin is still looking really bullish for the long term and it looks as if Kathy Wood and Company at least want to see what happens after the Bitcoin having and the short-term outlook for Bitcoin looks encouraging the significance of these security metrics cannot be overstated of course we talked about the mining difficulty in some other recent videos they are the foundation of bitcoin's long-term value proposition it says sustained growth is essential for bitcoin's long-term value as it reinforces bitcoin's claim as the most secure and decentralized blockchain and of course when we you know listen to Kathy Wood speak she spoke recently on a lot of different uh topics here yesterday we've covered the whole Vanguard situation and she thinks that's an absolute Terri decision and she also just spoke on the overall kind of Outlook of uh Bitcoin right now I want you guys to go inside here and uh take a listen to what Kathy Wood has to say in this clip again listen carefully because there's a lot to glean here from this conversation she had recently with Yahoo finance take a listen typically in a situation like this where there are a lot of competitors uh uh the the uh Market consolidate so we would expect that to happen um we hope and trust that we will be one of the winners uh and I think from our point of view we have we have some competitive advantages a lot of people are talking about fees and I'll get to that but we there there are three competitive advantages that I think are are very important one is our infrastructure and operations our partner 21 shares uh has built this infrastructure uh and been operating 40 different funds through booms and busts through hings and forks and airdrops and you know and and through periods that the ETF industry just has never seen so uh our infrastructure is Battle tested uh the second is research uh as you know we give all of our research away our first uh blog on bitcoin was the year of our founding 2014 our first white paper uh Bitcoin could it serve the three rolls of money we did in collaboration with art laugher in 2015 and we gained our first exposure in Bitcoin at $250 um and and have never left it as we mentioned Kathy Woods super super early to bitcoin this is certainly a competitive Advantage she's going to get to fees too so listen in uh we think the story has just begun uh so we've been Pro putting prolific research out there and now we have a Bitcoin monthly um uh report and a Bitcoin uh brainstorm monthly so uh we continue to give our research away as does our partner uh 21 shares and then the third and this is not to be underestimated the third competitive Advantage we have is a Salesforce that started selling uh our exposure to Bitcoin in 2016 that's when we partnered with Resolute investment management and I remember in the early days they were saying oh my goodness what is this what's Bitcoin and so they had to figure out what Bitcoin was and they paid a lot of attention to our research and they have developed conviction I mean bitcoin's been a marvelous investment yes although sometimes a you know White Knuckle one um it has gone up and down um you said at the beginning that you hope that you will be one of the winners here I mean if you look out a year five years from now do you think there will be 11 spot Bitcoin ETFs do you think some of them will have closed um I don't think there will be 11 spot uh ET Bitcoin ETFs uh some may close some may be uh consolidated into bigger companies uh the more pure playay uh companies may be bought out by uh by the larger players who need that need more of that expertise inous so uh I do think the process of closing and consolidation will take take us down to to three maybe four but more likely three um and you were talking about the reasons that people might want to buy um your product over some of the others but as you know a lot of people are going to look at the fees and they're going to gravitate towards the the cheaper end of the spectrum you guys are on the cheaper end of the spectrum is that a big selling point as well yes well at 21 and that has significance our partner is 21 shares and of course course the number of Bitcoin that will ever be minted uh will not go past 21 million so uh some significance there we are not looking to maximize Pro uh profit on on Arc is going to be the second best on this list uh with fees this spot Bitcoin ETF we are looking at Bitcoin as a public good it is essentially from a technology point of view going to uh going to be the financial superhighway of the internet this is uh this blockchain Bitcoin blockchain technology is what the developers did not build into the internet in the early days in the early 90s why because no one ever dreamed that Commerce or financial services would take place on this network now finally we're going to have a native currency in the internet and it will take out a lot of middlen because it is a peer-to-peer Network so uh we want to give investors as much access and exposure to bitcoin we don't want fees to get in the way uh and of course ETFs are extremely accessible uh so we're pretty excited to be uh part of the ecosystem and offering a spot Bitcoin ETF we're going to continue to listen to this but one thing I just want to mention Kathy Wood is probably by far one of the most Versed and well educated when it comes to bitcoin of all of the people we listen to you know the big Talking Heads something to consider yeah that's really interesting what you're saying about the motivation um behind doing this I am curious Kathy how you're invested then in Bitcoin right now right I know of course that you have exposure through companies like coinbase which is the top holding in your benchmark fund block at number six also a way to get into that you used to own shares in Gray scale which is now one of your competitors in the spot Bitcoin ETF market so I know you you love Bitcoin right so what what are the ways besides what I mentioned that you're getting exposure right now uh well you'll see that we did uh even before today we scaled out of uh gbtc as the discount narrowed uh so dramatically into um into pro shares uh Bitcoin Futures so let's say as a first stop I can't talk about what we are doing or are going to do in the future uh but logic would logic would suggest uh that um we'd be making another move at some point so um that that we will uh we we will not lose exposure to bitcoin um we're probably more excited about the possibility of price appreciation now that uh despite the controversy the SEC has given a spot Bitcoin ETF uh the green light I think finally institutions will feel more comfortable stepping in and what's so interesting right now is that already outstanding there are I think it's 19.6 million Bitcoin there will never be any more than 21 million 15 million of that 19.6 are in what we call strong hands uh they their wallets have not moved Bitcoin in 155 days or more that you know that's 75% of the outstanding so now we believe there's going to become as institutions enter real scarcity value and each dollar moving in will have more of an outsized impact now than it did before we got the green light um Kathy I want to ask you about one institution that still doesn't want anything to do with these products and that's Vanguard which told us in a statement that um the spot been going ETF will not be available this is interesting uh for purchase on the Vanguard platform and we're talking about an institution with what $7 trillion under management um what do you make of that decision well consider the source of course uh I think it's a terrible decision I think it's a strategic blunder and uh and what Vanguard is doing is basically saying you know the world's not going to change uh these new Financial rail are not going to be successful we're still going to have seven middlemen between uh merchants and consumers each one taking a toll and we just don't think that's that's going to prove correct uh truth always wins out Innovation solves problems there's a lot of friction uh in the financial system uh and we believe that Bitcoin uh block blockchain technology generally are going to take a lot of the friction out of the system the other reason I think this is a terrible mistake is you know they're going to deprive the investors who stay with them of really the the first Global decentralized private no government oversite rules-based critical phrase there monetary policy monetary system in history my mentor art laugher you may know him from the laugher curve he's also aary scholar he said this is what I have been waiting for for uh for 50 years since they closed the gold window in 1971 um he is so excited about this uh new asset class and that is the other mistake I think that Vanguard is making it's depriving uh its clients of access to a new asset class and what do we know about new asset classes well if it's truly uh non correlated or or exhibits very low correlation of returns to other assets then uh what what a diversification into this new asset class will enable is increased return per unit of risk uh that that I think that advisers have a fiduciary responsibility to look at this new asset class and to the extent uh there working with Vanguard they will be prohibited so again I think it's a strategic blunder but again uh we're all about disruptive innovation that's all we do right uh this is the most profound disruptive innovation taking place in the world today no doubt about it Kathy Wood on point let me know what you think about all of this down below in the comment section don't forget to like comment subscribe I thought Kathy Wood absolutely crushed that interview with Yahoo Finance that's why I wanted to show it to you in its entirety let me know your thoughts down below don't forget to subscribe we'll see you
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