Ark Invest: Still Positive on Bitcoin's Long-Term Outlook, Current Market Sentiment Too Pessimistic

March 12 - Cathie Wood's investment firm, Ark Invest, remains optimistic about bitcoin despite the market's sharp decline in March. In a report on Tuesday, Ark Invest said, ‘Ark remains optimistic about the long-term outlook for bitcoin, believing that policy changes and technological breakthroughs in areas such as artificial intelligence and robotics will reinvigorate spending and increase productivity.’

Ark Invest also pointed to deregulation and tax cuts as potential key drivers of Bitcoin's recovery from the current market disruption. The market has become overly pessimistic about current macroeconomic and geopolitical sentiment.