Sam Bankman-Fried of FTX, according to Cathie Wood, detested Bitcoin because he "couldn't control it."

Cathie Wood, CEO of Ark Invest, caused a stir last month by continuing to be bullish about Bitcoin. She confidently claimed that Bitcoin will reach $1 million by 2030, repeating a prediction made by her firm in April, despite the fact that it had fallen more than 60% in the year to less than $17,000 at the time.

This past weekend, she criticised Sam Bankman-Fried, the creator and former CEO of cryptocurrency exchange FTX, while expressing her continued belief in Bitcoin and sharing data to support it.

Last month, FTX rapidly plummeted, shattering the sector's confidence as it already struggled with a "crypto winter."

The Bitcoin blockchain didn't miss a beat during the crisis brought on by mysterious centralised players, Wood tweeted on Saturday. Bitcoin is transparent and decentralised, thus it makes sense that Sam Bankman Fried didn't like it. He was powerless to stop it.

Wood also sent a link to a paper about bitcoin from her company, which read:

Despite the market turbulence brought on by the demise of FTX the supply held by long-term holders or the supply that hasn't moved in at least 155 days—closed unchanged for the month of November. Despite recent occurrences, we think that this datapoint demonstrates holders' long-term commitment and high conviction. 72% of the entire circulating supply of bitcoin is now held by long-term holders.

FTX as seen by a "Bitcoin" maximalist

Michael Saylor, the CEO of MicroStrategy, who identifies as a Bitcoin maximalist, is one of those long-term Bitcoin owners. He offered his opinion on this week's FTX debacle as well.

He stated this week on the PBD Podcast that "you have the Bitcoin community opposite the crypto community, and there'sThe previous 2.5 years have seen a low-intensity, simmering guerilla war between the two factions.And Sam is essentially the face of the cryptocurrency industry.

He claimed that Bankman-Fried and people like him were constantly guilty of "shitcoinery" or "pump and promote unregistered securities." If you think, "I'm ahead of my customers, issuing a token, manipulating the price of the token, and dumping it on them," that is unethical.