Key Insights:
- Cathie Wood says Bitcoin news could stay positive as global instability boosts demand.
- ARK Invest added $25.54 million in crypto-linked stocks, led by Coinbase and SpaceX.
- Garlinghouse criticized Strategy’s Bitcoin funding model but maintained a bullish Bitcoin view.
Bitcoin news returned to financial assurance after Cathie Wood linked global instability with digital asset demand. In an X post, Wood said capital leaving unstable countries could support Bitcoin and the wider crypto market.
Her comments placed Bitcoin against artificial intelligence, not against it, as investors weigh different needs. The debate continued as ARK added crypto-linked stocks and Brad Garlinghouse criticized Strategy’s Bitcoin funding model.
Bitcoin News: Cathie Wood’s Crypto View Separates BTC from AI
Wood said artificial intelligence has started a major technology shift and continues attracting large investment flows. However, she argued that AI does not replace digital assets during periods of instability. In her view, Bitcoin and other digital assets work as insurance when credibility weakens in traditional systems.
She connected that point to capital leaving economically and politically unstable countries. Wood said those flows could light another fire under Bitcoin and the broader digital asset market. Her position framed crypto as a tool for moving and preserving wealth across borders.
The Cathie Wood crypto view also separates AI and digital assets into different investment purposes. AI companies continue to attract capital because investors see growth opportunities in the sector. Bitcoin, by contrast, addresses another need as an alternative store of value.
Bitcoin News Follows ARK Buying Activity
Bitcoin news around Wood’s comments arrived as ARK Invest reported fresh purchases across its exchange-traded funds. According to ARK’s daily trade disclosure, the firm bought about $25.54 million across several companies. The purchases included shares of Coinbase, SpaceX, Circle, Bullish, and Robinhood.
Coinbase accounted for the largest purchase by value. ARK bought 68,366 Coinbase shares through ARKK, ARKW, and ARKF. Based on Friday’s closing price of $149.06, that purchase was worth about $10.19 million.
SpaceX ranked second in the daily buying activity. ARK bought 45,728 SpaceX shares through four ETFs, including ARKQ and ARKX. Using the company’s closing price of $153.23, the purchase was valued at about $7.01 million.
The firm also added 78,756 Circle shares valued at about $5.79 million. ARK bought smaller positions in Bullish and Robinhood. Those purchases were worth about $1.34 million and $1.21 million, respectively.
Garlinghouse Criticizes Strategy’s Bitcoin Model
The Bitcoin news cycle also included criticism of Strategy’s funding approach. On Friday, Ripple CEO Brad Garlinghouse said financial engineering does not drive long-term value. He said lasting value in digital assets comes from usefulness.
Garlinghouse added that Strategy’s model had hurt the broader crypto market. Still, he separated that criticism from his view on Bitcoin. He said he remains bullish on the asset itself.
His comments focused on Strategy’s use of preferred shares to raise cash for Bitcoin purchases. For about a year, the company has issued preferred stock to fund more Bitcoin buying.
Garlinghouse pointed to STRC, which carries an 11.5% annual dividend. The share was intended to trade near $100. He noted that STRC was trading about 25% below that level.
STRC hit a record low on Thursday, falling as much as 26% below par. Strategy’s common stock also dropped to its lowest level since February 2024. It closed around $82 on Friday, while Bitcoin fell below $59,000.
