Cathie Wood, CEO of ARK Invest, and Strategy Executive Chairman Michael Saylor defended Bitcoin after venture capitalist Jason Calacanis called its latest rally a dead-cat bounce and argued institutional adoption had reduced the cryptocurrency to a mundane store of value. Bitcoin recovered above $80,000 after briefly falling below $76,000 earlier in the week. Wood said Bitcoin had many lives ahead, while Saylor cited its roughly $1.6 trillion valuation and described preserving wealth across generations as its core use case. Calacanis said Bitcoin remained unsuitable for everyday payments and smart contracts, with an intimidating user experience, despite maintaining personal exposure to the cryptocurrency.