{"id":473369,"date":"2024-01-19T16:50:19","date_gmt":"2024-01-19T16:50:19","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=473369"},"modified":"2024-01-19T16:55:19","modified_gmt":"2024-01-19T16:55:19","slug":"cathie-wood-blasts-jpmorgan-ceo-jamie-dimon-for-dissing-bitcoin-seems-to-question-his-tech-savvy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cathie-wood-blasts-jpmorgan-ceo-jamie-dimon-for-dissing-bitcoin-seems-to-question-his-tech-savvy","title":{"rendered":"Cathie Wood Blasts JPMorgan CEO Jamie Dimon For Dissing Bitcoin, Seems To Question His Tech Savvy"},"content":{"rendered":"

Ark Invest CEO Cathie Wood hit back at Jamie Dimond after the JPMorgan CEO made dismissive comments<\/a> about Bitcoin<\/a>, likening it to a ”pet rock” that “does nothing.”<\/p>\r\n

Wood said data doesn’t support such an opinion, and seemed to question Dimon’s tech savvy in the third of a barrage of tweets criticizing the JPMorgan helmsman.<\/p>\r\n

Wood initially fired back by referring to a tweet posted by ARK Invest’s Director of Digital Assets, Yassine Elmandjra. <\/p>\r\n

Elmandjra’s post noted that Bitcoin’s hash rate hit an all time high of 500 exahashes per second this month. To emphasize the significance of this milestone, he shared that, “for every star in our galaxy, the Bitcoin<\/a> network is calculating 5 billion computations per second.”<\/p>\r\n

He added that this dwarfs the capabilities of the world’s most potent supercomputer by a factor of 500.<\/p>\r\n

<\/p>

Today, JPM’s Jamie Dimon called blockchain technology small, and added that bitcoin, a derivative of blockchain technology, is the equivalent of a “pet rock”. Data flies in the face of Jamie’s description, as @yassineARK<\/a>, our Director of Digital Assets, highlights here! https:\/\/t.co\/TsSDyTTyuk<\/a><\/p>— Cathie Wood (@CathieDWood) January 19, 2024<\/a><\/blockquote>