Cathie Wood responded to Jason Calacanis, stating that Bitcoin is not a dead cat and has many lives ahead, pointing to Ark's latest Bitcoin brainstorming session, which focuses on the convergence of artificial intelligence and Bitcoin. Calacanis's original post described the market as a dead cat continuing to bounce and questioned what Bitcoin would be in seventeen years: neither good at payments nor smart contracts, with the user experience cut off halfway through his argument.

Wood did not provide a new price target in her reply but defined the decline as a cycle rather than an end by using the term "many lives," shifting the discussion from user experience issues to the convergence with artificial intelligence. Ark has tied this discussion to partners like Bitcoin Park, creating a content product rather than a trading directive.

Along the same lines, Wood previously described Bitcoin as a sovereign currency insurance that cannot be replaced by AI stocks: AI draws away funds and attention but cannot hedge against fiat currency and capital flight. She also pointed to blockchain payments for machine-to-machine settlements representing AI. These are existing frameworks that have been reactivated by this "dead cat" discussion.

Calacanis's criticism focused on utility: the transfer and contract experience lag behind newer public chains. Wood's rebuttal centered on asset functions: survival through cycles and its position as non-sovereign collateral. Both sides are not arguing from the same balance sheet.

In market mechanisms, this is narrative hedging. What is being sold is the utility pricing of "not being able to be Alipay at seventeen years old," while what is being bought is the long-term allocation of "insurance and machine settlement layers." Funds have already been diverted between spot ETFs and tech stocks; the beneficiaries are actively managed funds that maintain Bitcoin positions, while those under pressure are traders demanding Bitcoin to become a universal computing platform immediately based on experience checklists.

The brainstorming session is content, not a subscription form.

Source: Public information