Why One of the Smartest Investors Bought Bitcoin and Thinks You Should Too
On the What Bitcoin Did podcast, ARK Invest Chief Executive Officer Cathie Wood shed some light on Bitcoin (CRYPTO: BTC). Maybe the most intriguing, but not most important, part of the interview was that she finally disclosed for the first time when she originally bought Bitcoin. Back in 2015 Wood purchased $100,000 of Bitcoin when its price was hovering around $250. That investment is worth about $7.5 million today.
Wood's faith in Bitcoin has only grown since 2015. When her firm started researching the world's first cryptocurrency, she said they quickly realized Bitcoin had the potential to be "one of the most profound innovations of our time."
During the initial research of Bitcoin, Wood and her team worked with one of the world's most prominent economists with expertise in monetary policy, Art Laffer. Laffer served under President Ronald Reagan on the Economic Policy Advisory Board and has been active in economic policy on the national and international stage ever since.
Source Fool.com
