ARK Invest’s Cathie Wood says one altcoin is turning out to be a serious challenger in the digital asset space.
In an interview with Bloomberg Television, Wood says that while Bitcoin (BTC) has been leading the market, other altcoins, including Hyperliquid (HYPE), are starting to show their true strength.
Hyperliquid is a layer 1 blockchain and decentralized exchange (DEX) designed for high-performance trading of perpetual futures and spot crypto assets.
HYPE, its native token, was launched at around $8.43 in December of 2024, but is now trading at $48.60.
Says Wood,
“We’ve been increasing our exposure generally to the digital asset space. I think Bitcoin has been the leader of the pack. The others are following. Ether has followed and now Solana. Hyperliquid is the new one, the new kid on the block.
We think this is three revolutions in one: a monetary revolution, a financial services revolution, and, really, in a much broader sense, a digital property rights, immutable property rights online. It’s never happened before, it’s only possible because of blockchain technology.”
Wood recently said she is sticking to her bet that Bitcoin (BTC) will continue outperforming gold.
In a new video update, the ARK Invest CEO says that Bitcoin’s uptrend against the precious metal hasn’t been broken, despite a recent correction.
However, Wood notes the downturn in the Bitcoin to gold ratio may mean that the precious metal is “telegraphing” some kind of shift.
“Bitcoin to gold has not broken its uptrend, but has had a setback in here as Bitcoin has settled down and gold has continued to go up. Our bet is that Bitcoin will continue this uptrend over time, but we are paying attention to it, trying to understand what is gold telegraphing relative to Bitcoin.”
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