Dumbest Reason to Buy Bitcoin Named by Cathie Wood, Canadian Billionaire Claims
Analysis
Price Impact
MedCathie wood's highly speculative claim about the white house buying bitcoin for a strategic reserve, though strongly criticized as 'absurd' and 'the dumbest reason' by frank giustra, introduces a narrative of potential governmental adoption. while the immediate trigger (us buying 1m btc) is dismissed, the underlying idea of nation-state reserves, if ever realized, would be a significant bullish catalyst.
Trustworthiness
LowThe specific prediction of the us government buying 1 million bitcoin is explicitly called out as 'absurd' and a 'massive disappointment' because the us is currently stopping sales, not buying. giustra's strong dismissal and reference to wood's 'worst track record' further reduce credibility for this particular claim.
Price Direction
NeutralThe debunking of a highly speculative and unlikely bullish catalyst (us government buying 1 million btc) removes a potential positive trigger. however, since this specific 'dumbest reason' was likely not priced into the market, its dismissal probably won't cause a significant bearish shift, leading to a neutral immediate impact.
Time Effect
LongWhile the specific prediction is immediately dismissed, the broader discussion about governments considering bitcoin for strategic reserves is a long-term narrative that could influence bitcoin's perceived legitimacy and adoption over an extended period, even if currently speculative.
Original Article:
Article Content:
Cover image via www.youtube.com Read U.TODAY on Google News Canadian mining mogul Frank Giustra has delivered a scathing rebuke of Ark Invest CEO Cathie Wood over her recent Bitcoin price prediction. Advertisement The pro-gold billionaire has awarded her "first prize for the dumbest reason to buy Bitcoin" following her latest prediction. During a recent podcast appearance , Wood argued that the White House intends to purchase 1 million Bitcoin for a U.S. strategic reserve specifically to avoid the "lame duck" scenario. HOT Stories Morning Crypto Report: XRP Risks Becoming $2 Stablecoin, Coinbase Reveals 4 Proofs of Crypto Reset, '$10,000 Zcash' Advocate Ends Speculation on ZEC Developers' Scandal Ripple-Backed Evernorth to Expand XRPL Adoption Crypto Market Review: Worst Shiba Inu (SHIB) Denial Since September 2025, This Can Save Bitcoin (BTC), Ethereum (ETH) Price in Good Spot Now Too Quiet? Bitcoin Volatility Hits Record Low Giustra, a longtime skeptic of modern monetary policy and a gold bug, dismissed the theory as absurd. He also took a personal swipe at Wood’s management history by adding that "it’s no wonder she has the worst track record on Wall Street." Advertisement Wood's optimistic bet As r eported by U.Today , the so-called "strategic Bitcoin reserve" ended up being a massive disappointment since it simply meant that the US would stop selling BTC instead of actually buying new coins. You Might Also Like Mon, 04/21/2025 - 22:00 Cathie Wood's ARK Invest Makes First Direct Solana Investment By Paul Adedoyin However, Wood believes that the White House will move to acquire secure political power during the 2026 midterm elections. Advertisement "Also, it seems as though there's been reticence about actually buying Bitcoin for the strategic reserve. So far, it's confiscated. The original intent was to own a million Bitcoin. So I actually think they will start buying…" Wood said. Notably, Wood believes that other governments will have to follow suit. "I think if the US actually says, 'Okay, now we're going to buy,' that's going to spur a lot of other governments to think this thing through. Do they want to be hostage to the dollar and US monetary policy? No, they don't. So put some Bitcoin in your reserves," she said during the podcast. #Bitcoin Price Prediction #Cathie Wood #Frank Giustra