In a recent X (ex-Twitter) post, ARK Invest CEO Cathie Wood expressed her bullish view on the intersection of Bitcoin (BTC) and Artificial Intelligence (AI)
inside postalWood alluded to the transformative potential of the dynamic synergy between AI and Bitcoin, highlighting the possibilities and positive impact of these technologies on different industries and the overall economic landscape.
The convergence between Bitcoin and artificial intelligence could change the way companies are organized, resulting in a dramatic drop in costs and an explosion in productivity. I was astounded by the possibilities created by these brilliant entrepreneurs. Look for this podcast Thursday! https://t.co/kPW92CuhFQ
— Cathy Wood (@CathieDWood) September 2, 2023
Wood’s bullish outlook is backed up by a research paper published by ARK Invest, titled “Investing in Artificial Intelligence: Where Will Stock Value Go?”, showing that both Wood and ARK Invest are evaluating the importance of AI in investment strategies.
Over the years, Wood has allocated investments to various artificial intelligence-related stocks, demonstrating her strong belief in the emerging technology.Wood’s proverbial enthusiasm for Bitcoin is evident in ARK Efforts on Bitcoin exchange-traded funds (ETFs). Additionally, ARK is no stranger to investing in the digital asset space, with significant stakes in Coinbase and Robinhood.
related: Bitwise Withdraws Bitcoin and Ethereum Market Cap ETF Applications
The filing also highlights ARK Invest’s strategies that have paid off from investments in artificial intelligence tech stocks. The ARK Disruptive Innovation ETF, which focuses on artificial intelligence and other pioneering technologies, outperformed the Nasdaq 100, posting a respectable mid-year profit of 41.2%.
Wood’s post, along with ARK’s research, illustrate the growing influence of artificial intelligence in the investment world. The convergence of Bitcoin and artificial intelligence could trigger changes in business operations, potentially reshaping productivity and cost dynamics. Wood’s endorsement of bitcoin and artificial intelligence could lead to more investment flowing into the two technologies in the future as investors explore new avenues for growth.
Magazine: SEC Says ETF Inadequately Filinged, Binance Loses Euro Partner, and More: Hodler’s Digest, June 25-July 1
