Cathie Wood is criticizing JPMorgan CEO Jamie Dimon for dissing Bitcoin, seemingly questioning his technical knowledge.

Ark Invest CEO Cathie Wood has hit back at Jamie Dimond after being snubbed by the JPMorgan CEO. comment Likens Bitcoin to a “pet rock” that “does nothing.”

Wood said the data did not support that opinion and seemed to question Dimon’s technical knowledge in a third tweet criticizing the JPMorgan helmsman.

Wood initially hit back by referencing a tweet posted by Yassine Elmandjra, director of digital assets at ARK Invest.

Elmandjra’s post noted that Bitcoin’s hash rate hit an all-time high of 500 exahashes per second this month. To highlight the importance of this milestone, he shared that “for every star in our galaxy, the Bitcoin network is computing 5 billion calculations per second.”

He added that this dwarfs the performance of the world’s most powerful supercomputer by a factor of 500.

Now, JPM’s Jamie Dimon says blockchain technology is small, adding that Bitcoin, an offshoot of blockchain technology, is like a “petstone.” The data contradicts Jamie’s explanation as follows: @yassineARKDirector of Digital Assets highlights here! https://t.co/TsSDyTTyuk

— Cathie Wood (@CathieDWood) January 19, 2024

In a separate post, Wood said Bitcoin is “backed by the largest computer network in the world.” She added that the network is “larger than the combined size of the clouds built by Amazon, Google and Microsoft over the last 15 to 20 years.”

Wood continued to mock Dimon in a third post, referencing 2004 and JPMorgan’s acquisition of Bank One.

Wood recalled how excited investors were that Dimon, the CEO of a Wall Street giant, was “so tech-savvy,” adding that tech-oriented investors at the time had “tremendous respect for him.”

“Jamie, I want to introduce you to something. @brian_armstrong,” she added, referring to the CEO of cryptocurrency exchange Coinbase.

Cathie Wood believes BTC will reach $1.5 million.

In an interview with CNBC on January 11, Wood predicted that BTC could rise to $1.5 million in the next bull market, considering the introduction of a spot Bitcoin ETF (Exchange Traded Fund) in the United States.

2030 update #Bitcoin Price prediction:

Cathie Wood, CEO of ARK Invest

Bare Case: $250,000
Base case: $600,000
Bull case: $1.5 million

big: pic.twitter.com/GjsY67i8Nj

— Altcoin Daily (@AltcoinDailyio) January 11, 2024

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