Cathie Wood has kept buying Circle as the stock fell 42% in a year. On Sunday she said why. Wall Street **** ysts who built their careers on Visa and Mastercard, she argued, cannot understand the company.
Circle issues USDC, a digital dollar backed by cash and short-term US government debt. Wood runs ARK Invest, and Circle is now the biggest crypto bet in her flagship fund.
Wood was replying to a chart built from Artemis data, where **** yst Alex Obchakevich indicated that the market was changing its mind about who actually earns money on stablecoins.
It tracked the three payment firms over a year. Visa was up about 5%, Mastercard about 1%. Circle was down 42%.
Though CRCL has appreciated 84% since its IPO, this one-year chart illustrates the inefficiency of public equity markets in the short term. Many financial services **** ysts have built their long-term track records off of $V and $MA and cannot fathom Circle, the disrupter," Wood challenged.
#circle
Circle issues USDC, a digital dollar backed by cash and short-term US government debt. Wood runs ARK Invest, and Circle is now the biggest crypto bet in her flagship fund.
Wood was replying to a chart built from Artemis data, where **** yst Alex Obchakevich indicated that the market was changing its mind about who actually earns money on stablecoins.
It tracked the three payment firms over a year. Visa was up about 5%, Mastercard about 1%. Circle was down 42%.
Though CRCL has appreciated 84% since its IPO, this one-year chart illustrates the inefficiency of public equity markets in the short term. Many financial services **** ysts have built their long-term track records off of $V and $MA and cannot fathom Circle, the disrupter," Wood challenged.
#circle
23 days ago
