Cathie Wood Says Environmental Concerns Over Bitcoin Are Temporary

Concerns about Bitcoin’s environmental impact are unlikely to derail its long-term path higher, Ark Investment Management’s Cathie Wood says.

The star ETF manager is still bullish on the largest crytpocurrency, despite China’s crackdown on mining and Elon Musk’s tweets about its fossil fuel usage, she said in an interview with CNBC.

“It’s healthier to disperse that mining, and a lot of that is coming toward the U.S. using renewables,” she said.

She also reaffirmed her faith in companies like Roku Inc. and Tesla Inc., calling Musk one of the “special, visionary leaders” and comparing him to Amazon.com Inc. founder Jeff Bezos.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.