Ark investment management CEO Cathie Wood defended Bitcoin BTC/USD And ether ETH/USDand said the two major cryptocurrencies “haven’t missed a beat” despite the collapse of centralized entities like FTX and Celsius.

What happened: In conversation with CNBC On Monday, Wood expressed her confidence that decentralized and transparent blockchains like Bitcoin and Ethereum are “on the right track.”

“FTX, Celsius and 3AC are completely opaque and centralized. Those were the companies that went under, but blockchains like BTC and Ether never missed a beat and transactions didn’t stop. And that gave us a lot of confidence,” she said.

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Wood’s Ark Invest published its February 1st seventh edition of the “Big Ideas 2023”suggesting that BTC is on a path that could see it become a multi-trillion dollar market in the years to come.

According to Ark research, the price of Bitcoin could surpass $1 million by 2030, a target of Wood has repeatedly predicted.

Price promotion: At the time of writing, Bitcoin was trading at $23,457, down 0.47% over the past 24 hours. according to Benzinga Pro.

Continue reading: Bitcoin, Ethereum, Dogecoin tumble amid regulatory jitters: Analyst says “Things could get ugly again” if Apex Crypto rejects $23K

(Illustration: Gonzalo Lanzilotta via Benzinga)