Cathie Wood, chief govt at ARK Invest, reiterated her help for cryptocurrencies resembling bitcoin and ether on Monday, regardless of a number of digital asset corporations collapsing final 12 months and recent indicators that U.S. regulators need to tighten their management over the trade.
Wood referred to as the Bitcoin
BTCUSD,
community “completely decentralized and transparent,” however stated bankrupt crypto corporations FTX, Celsius and Three Arrows had been “completely opaque and centralized,” in an interview with CNBC on Monday.
“Those were the companies that went under,” she stated.
Wood additionally stated bitcoin has been main a “money revolution,” whereas ether
ETHUSD,
has been ushering in a monetary companies “revolution.”
The so-called internet three, or the subsequent technology of the web that some suppose might be decentralized, has been main a “third revolution” in digital property rights, Wood instructed CNBC.
“I know that the best way to lift people and countries out of poverty is to give them immutable property rights. And we think that web three is all about bringing digital property rights into this new world,” Wood stated.
In a January report, ARK Invest predicted that bitcoin would attain nearly $1.5 million by 2030. The cryptocurrency is buying and selling at round $23,316, up 41.8% year-to-date however nonetheless down 66.2% from an file excessive in November, 2021.
Wood’s funds, which often spend money on high-growth, technology-focused corporations, had stellar performances within the 2020 and 2021 bull market, however crashed final 12 months. Its flagship Ark Innovation ETF
ARKK,
fell greater than 67% in 2022, however has regained about 24% to date this 12 months.
Source web site: www.marketwatch.com
