ICYMI: ARK’s Wood and Galaxy’s Novogratz talk Twitter and Bitcoin ETFs in the Bahamas
Galaxy Digital’s Mike Novogratz and ARK Invest’s Cathie Wood addressed Bitcoin ETFs and the recent Twitter deal in a Bahamas panel.The two butted heads over whether Elon Musk will effectively decentralize Twitter.Galaxy Digital's Mike Novogratz and ARK Invest's Cathie Wood see the tides changing for a spot bitcoin exchange-traded fund and for Twitter under Elon Musk.
During a Tuesday panel at FTX and SALT's Crypto Bahamas conference, Novogratz and Wood addressed how the recent Twitter deal could be good for crypto and how coming shifts in the political sphere could lead to the approval of a spot bitcoin ETF.Novogratz and Wood butted heads over the recent deal between Tesla head Elon Musk and Twitter.
“I think Jack Dorsey and Elon Musk have gotten much closer since our 'B Word' conference last year," she said. Given this relationship and where it began, Wood said she expects more crypto aspects to crop up on the platform.For his part, Novogratz said he's skeptical of Musk's ability to decentralize the platform. In his view, the long-term hope is for decentralized social media, and the recent deal has just shifted the point of centralization from Twitter's board to Musk.
Wood took issue with this, pointing out that Musk has frequently delivered on his promises over time, and she's confident he will open-source the platform.A spot bitcoin product has been notoriously challenging to get through the US's Securities and Exchange Commission , with the securities regulator rejecting every proposal it's been pressed to make a decision on thus far.
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