Cathie Wood, the Chief Executive Officer (CEO) of Ark Invest, has <\/span>revealed<\/span><\/a> her insights in the direction of JPMorgan\u2019s CEO Jamie Dimon\u2019s analogy of Bitcoin \u2013 the main cryptocurrency, likening the digital asset to a \u201cpet rock.\u201d<\/span><\/p>\n JPMorgan Chase\u2019s CEO Jamie Dimon r<\/span>efreshed his long-standing distrust in BTC and discounted any potential inherent worth to the token on the World Economic Forum in Davos. His <\/span>assertion about Bitcoin being a \u201c<\/span>pet rock<\/span><\/a>\u201d has been receiving backlash from well-known figures within the crypto house currently.<\/span><\/p>\n Reading: Why Cathie Wood Placed 25% Of Her Wealth In Bitcoin: A Bold Bet Unveiled<\/a><\/p>\n One of those who have responded is Cathie Wood, <\/span><\/a>who took to the social media platform X (previously Twitter) to specific her displeasure with the JPMorgan CEO\u2019s assertion concerning Bitcoin. <\/span>The Ark Invest CEO identified information that counters Dimon\u2019s analogy and proves that BTC is just not a nugatory asset.<\/span><\/p>\n The publish learn:<\/span><\/p>\n Today, JPM\u2019s Jamie Dimon referred to as blockchain expertise small, and added that Bitcoin, a by-product of blockchain expertise, is the equal of\u00a0 a \u201cpet rock\u201d. Data flies within the face of Jamie\u2019s description.<\/span><\/p>\n<\/blockquote>\n Wood drew the neighborhood\u2019s consideration to a latest <\/span>post<\/span><\/a> by Yassine Elmandjra, Ark Invest\u2019s Director of Digital Assets. In the publish, Elmandjra highlighted that Bitcoin\u2019s hash fee has reached an all-time excessive of 500 exahashes\/second this month.<\/span><\/p>\n Elimandjra additional delves into the importance of the token\u2019s hash fee and the general computing energy of the community. According to him, with the worldwide inhabitants performing one hash\/second, it might take two millennia for the hash fee of BTC\u2019s community to be matched.\u00a0<\/span><\/p>\n Additionally, he famous that the <\/span>Bitcoin<\/span><\/a> community has the potential of \u201ccalculating around 5 billion computations per second.\u201d He asserted the community\u2019s hash fee is about 67 occasions greater than the grains of sand on Earth per second.<\/span><\/p>\n Furthermore, the director identified that BTC has surpassed probably the most highly effective supercomputers on the planet. \u201cBy number of raw operations\/second, Bitcoin is ~500x more performant than the world\u2019s most powerful supercomputer,\u201d he said.<\/span><\/p>\n The token\u2019s unprecedented <\/span>hash rate<\/span><\/a> demonstrates its monumental computational energy and outpacing present international capability. It additionally emphasizes its agency, actual help that goes past concept.<\/span><\/p>\n Another well-known determine who has slammed Jamie Dimon\u2019s assertion is the US whistleblower Edward Snowden. Snowden additionally <\/span>expressed<\/span><\/a> his direct criticism on the social media platform X.<\/span><\/p>\n According to him, Dimon is now more durable on the token after the US Securities and Exchange Commission (SEC) <\/span>approved the Bitcoin Spot Exchange-Traded Funds (ETFs).\u00a0<\/span><\/a><\/p>\n He mocked Dimon\u2019s steady point out of Bitcoin in interviews, saying, \u201cSpends one half of every interview insisting \u2018I don\u2019t care about Bitcoin,\u2019 and the other half sobbing that it stole his wife and shot his dog,\u201d he said.<\/span><\/p>\n Featured picture by iStock, chart from Tradingview.com<\/p>\n<\/p><\/div>\nCathie Wood Defends Bitcoin<\/span><\/h2>\n
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![\"Bitcoin\"](\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2024\/01\/Elmandjra-Bitcoin-Chart.jpg?w=640&resize=640%2C393\")
Edward Snowden Follows The Wave<\/span><\/h2>\n