"Wood姐" Cathie Wood reiterated Bitcoin's dominant position, specifically mentioning Hyperliquid as a "market newcomer": optimistic about Layer1 innovation and DeFi transparency.

Cathie Wood, founder of ARK Invest, firmly expressed her views on Bitcoin's (BTC) unshakeable dominance in the crypto assets space during a recent interview. She positions Bitcoin as the "true cryptocurrency" and "the biggest winner," highlighting its fixed supply and security that has never been compromised by hackers, even suggesting that it surpasses traditional safe-haven assets like gold. In addition to Bitcoin's core position, Wood is optimistic about the potential of stablecoins in high-yield Decentralized Finance (DeFi), praising the transparent liquidation mechanisms of DeFi during market crises. Notably, she explicitly does not believe that Ethereum (ETH) can surpass Bitcoin, while naming Perp DEX giant Hyperliquid as a "market newcomer," likening it to the early potential of Solana.

Bitcoin: The "Unmatched" Currency System in Cathie Wood's Vision

Cathie Wood is firmly bullish on Bitcoin, believing it holds a supreme position in the realm of pure crypto assets. She summarized the three core values of Bitcoin, which make it more attractive than gold in the philosophy of technological innovation investment:

1. A standardized global currency system: Bitcoin follows the quantity theory of money, with its total supply permanently fixed at 21 million units, currently approaching 20 million.

2. Unmatched Security: As a Layer 1 public chain, the Bitcoin network "has never been hacked," and its security is unparalleled.

3. New Asset Class: The emergence of Bitcoin has created an entirely new asset class.

Based on these characteristics, Wood predicts that Bitcoin will be the "biggest winner" in the crypto market and will "always be the biggest one."

Stablecoins and DeFi: Low-Cost, High-Transparency Financial Innovation

Wood acknowledges that stablecoins have taken some market share away from Bitcoin, especially in emerging markets. She believes that the appeal of stablecoins lies in their dollar-pegged nature, as well as the innovations and advantages they bring to Decentralized Finance (DeFi):

• High Yield Potential: Stablecoins provide investors with high-yield opportunities, such as the recent product launched by Coinbase that allows USDC holders to earn an annualized yield of 10.4%.
• Emerging markets favor: In developing countries, stablecoins are highly regarded for their ease of transfer and anti-inflation characteristics.
• Reduce transaction costs: In developed countries, stablecoins facilitate peer-to-peer payments, bypassing intermediaries and significantly lowering transaction costs.
• Transparency in Crisis: Wood praises the transparency of DeFi. She pointed to the examples of Three Arrows Capital and the Luna collapse, noting that DeFi ensured that on-chain collateral could be quickly liquidated, protecting some investors; while the centralized FTX exchange caused widespread losses.

Ethereum and Hyperliquid: Affirming Innovation, Focusing on New Stars

For the second largest crypto asset, Ethereum, Wood affirmed its "key role" in driving the Decentralized Finance ecosystem. However, she disagreed with analyst Tom Lee's view that Ethereum could surpass Bitcoin, reiterating that Bitcoin's "monetary attributes and security" give it a longer-term value.

Wood also revealed the crypto asset allocation of the ARK Invest public fund: the portfolio mainly focuses on Bitcoin, Ether, and Solana three major assets. It is worth mentioning her keen observation of emerging projects:

• Calling out Hyperliquid: Wood clearly referred to the Perp DEX giant Hyperliquid as a "market newcomer."
• Early Solana Association: She stated that the development of Hyperliquid "reminds her of the early stages of Solana." Given that Solana has entered the top ranks and proven its value, Wood has high expectations for Hyperliquid's potential.

Conclusion

Cathie Wood's insights into the crypto market are always built on a profound belief in "technological innovation" and "decentralization." Her positioning of Bitcoin as the "true cryptocurrency" is unwavering, while she is optimistic about the "high yield opportunities" and "transparent settlement mechanisms" brought by stablecoins in DeFi. Her public endorsement of Hyperliquid marks ARK Invest's focus on the new generation of innovators in the DeFi space, especially those that may replicate the early explosive growth of Solana's Layer1 or DeFi infrastructure. Wood's perspective reminds us that while grasping Bitcoin's core monetary position at the macro level, we must not overlook the emerging "market new stars" in the ongoing competition of DeFi and Layer1.