Home Cryptocurrency News Bitcoin ARK chief Catherine Wood says bitcoin is a 'bigger idea' than Apple

ARK chief Catherine Wood says bitcoin is a 'bigger idea' than Apple

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ARK Investment Management CEO Catherine Wood is a big believer in bitcoin.

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Bitcoin is “so much bigger an idea than even Apple, which is a pretty big idea,” Wood said on CNBC’s “Halftime Report” Thursday.

The investor said her fund can’t own the cryptocurrency directly, so it bought Bitcoin Investment Trust (GBTC) in 2015 when bitcoin traded below $250 to get exposure.

Wood also said bitcoin may split in the future, so it can be a true digital payment solution without any transaction limit issues.

“Maybe [bitcoin] will do a hard fork, so it has both the store of value role and the means of exchange role,” she added.

The price of bitcoin declined about 10 percent to around $13,878 Thursday, according to data from industry website CoinDesk.

The digital currency is up more than 1,300 percent so far this year.

ARK is an investment management firm focused on disruptive technology.

Prior to ARK, Wood spent 12 years at AllianceBernstein as chief investment officer of global thematic strategies, where she managed $5 billion.

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