Jason Calacanis Calls Bitcoin a 'Dead Cat' Which Continues to Bounce—Cathie Wood Argues BTC Has 'Many Lives Ahead''
Ark Invest CEO Cathie Wood on Saturday rebutted the argument that Bitcoin is an outdated and “boring” store of value.‘No Longer Capturing the Public’s Attention’In an X post, Venture capitalist Jason Calacanis argued that 17 years after its creation, Bitcoin lacks strong utility in transactions or smart contracts and is “no longer capturing the public’s imagination.”“It’s a boring store of value, trusted as that—which is its biggest value,” he added.Calacanis posted Bitcoin’s 1-year price chart, showing a 30% decline with a recent rebound, and said, “The dead cat continues to bounce.”Bitcoin is not a dead cat, ! It has many lives ahead.Check out our latest Bitcoin Brainstorm with focused on the convergence between AI and Bitcoin. Wood’s DefenseWood, a long-time Bitcoin advocate, was far from convinced.“Bitcoin is not a dead cat, Jason! It has many lives ahead,” the veteran investor stated.Wood also pointed to the latest episode of the Ark Invest-hosted “Bitcoin Brainstorm” podcast, where she discussed the convergence of AI and Bitcoin and noted that advanced AI models can be a double-edged sword for the cryptocurrency.Wood has previously framed Bitcoin as a "wealth insurance policy" that AI-driven growth investments cannot offer.Notably, Ark Invest worth of ARK 21Shares Bitcoin ETF ) shares shortly before the CLARITY Act’s legislative defeat last week.Focused on the convergence between and , this episode of Bitcoin Brainstorm is one of our best yet with and . Read Also: Saylor, Armstrong Also Push BackWood wasn’t the only one opposing Calacanis’ arguments. Strategy Inc. (NASDAQ:MSTR) founder Michael Saylor emphasized Bitcoin’s evolution since 2011 into an asset with a market capitalization of more than $1.6 trillion.“Preserving wealth across generations is a bigger ambition than entertaining a dinner party,” Saylor added.Jason, you’ve watched Bitcoin grow since 2011. It’s now a $1.6 trillion success and the world’s most valuable digital asset. Digital Capital is the killer app. Preserving wealth across generations is a bigger ambition than entertaining a dinner party. The orange tie stays.Coinbase Global Inc. (NASDAQ:CEO) CEO Brian Armstrong deemed Bitcoin as “Digital Gold,” which is here to stay.It's digital gold – here to stay, and as important as ever.Price Action: At the time of writing, BTC was exchanging hands at $81,562, up 1.40% in the last 24 hours, according to data from Benzinga Pro. Read Also: Bitcoin, Zcash, Hyperliquid in Focus as Industry Expert Sees Crypto Nearing a 'Major Turning Point' Photo: Hi my name is Jacco on Shutterstock.com