Jason Calacanis Calls Bitcoin a 'Dead Cat' Which Continues to Bounce—Cathie Wood Argues BTC Has 'Many Liv

Ark Invest CEO Cathie Wood on Saturday rebutted the argument that Bitcoin (CRYPTO: BTC) is an outdated and “boring” store of value.

‘No Longer Capturing the Public’s Attention’

In an X post, Venture capitalist Jason Calacanis argued that 17 years after its creation, Bitcoin lacks strong utility in transactions or smart contracts and is “no longer capturing the public’s imagination.”

“It’s a boring store of value, trusted as that—which is its biggest value,” he added.

Calacanis posted Bitcoin’s 1-year price chart, showing a 30% decline with a recent rebound, and said, “The dead cat continues to bounce.”

Wood’s Defense

Wood, a long-time Bitcoin advocate, was far from convinced.

“Bitcoin is not a dead cat, Jason! It has many lives ahead,” the veteran investor stated.

Wood also pointed to the latest episode of the Ark Invest-hosted “Bitcoin Brainstorm” podcast, where she discussed the convergence of AI and Bitcoin and noted that advanced AI models can be a double-edged sword for the cryptocurrency.

Wood has previously framed Bitcoin as a "wealth insurance policy" that AI-driven growth investments cannot offer.

Notably, Ark Invest cashed out $40 million worth of ARK 21Shares Bitcoin ETF (BATS: ARKB) shares shortly before the CLARITY Act’s legislative defeat last week.