In not so many words, uber popular money manager Cathie Wood told Yahoo Finance Live billionaire and money manager John Paulson should put a few books about bitcoin (BTC-USD) on his fall reading list because the leading cryptocurrency is here to stay.
“John Paulson made an incredible call during the mortgage crisis. He has been a gold bug, I would say, for most of his career. And many investors who have spent their careers focused on gold cannot understand the digital concept associated with gold,” said Wood, the closely watched founder of Ark Invest and crypto bull.
Paulson did not return an email from Yahoo Finance seeking comment.
Wood has been a long-time proponent of crypto. She has exposure to the ups and downs of crypto through the performance of levered stocks such as Coinbase (COIN) and Square (SQ) in her various innovation focused ETFs.
Suffice to say Paulson has a wildly different take, similar to many other well-known old-timers in the…