Cathie Wood’s Ark Invest Dumps PayPal For Bitcoin-friendly Cash App

Cathie Wood’s Ark Invest founder has dumped all of the its holdings of PayPal.

Ark Invest has favoured Cash App payment system which uses the Bitcoin (BTC) Lightning Network.

Wood explained her firm’s move at the Miami Bitcoin 2022 conference which wrapped up on Saturday.

The Lightning Network (LN) is a layer-2 solution for Bitcoin meant to facilitate faster and cheaper transactions.

Wood said in an interview with CNBC on Friday that she made the decision to drop PayPal for Cash App due to its more comprehensive approach toward digital asset wallet integration.

In general, Wood believes retail investors have driven the crypto market up to this point.


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