Ark Invest CEO Claims We Are Not In Cryptocurrency Bubble
The Ark-Invest CEO, Cathie Wood, recently talked about the outlook of the crypto market as she got the opportunity to speak in favor of Bitcoin and the industrial ecosystem that is progressing around digital currency. While having a discussion with Yahoo-Finance, the expert of finance stated that the coming time appears to be bright regarding the crypto world. Wood does not agree with the viewpoint of John Paulson (a billionaire investor), which he recently spoke about while criticizing Bitcoin along with the other cryptocurrencies. She claimed that Bitcoin seems to cross gold being a store-of-value. She added that BTC (Bitcoin) is the latest monetary system across the globe, and it does not require any policymaker as it is fully decentralized.
Some days before, Paulson shared his point of view with Bloomberg saying that crypto will gradually vanish to zero. He mentioned that many people would disagree with him; however people should not invest in any of the cryptocurrencies without considering their current trading volume or popularity as no matter how up or down it goes, the endpoint of it would be worthlessness.
Cathie Wood considers that the crypto space is not a bubble
Wood described that she has invested in two of the prominent regulated crypto exchanges based in the United States named Robinhood and Coinbase. Firstly, she appreciated Robin Hood’s conversion to crypto finance as being a very positive move regarding its model of business. Then she asserted that the SEC would not be able to make the situation more adverse no matter how much it tries. She further expressed her contentment for having invested in Coinbase as the exchange is the single openly traded crypto company in addition to being a global example regarding compliance with the regulations.
According to Cathie, markets are far from any price bubble. Cryptocurrency is a generational concept, and its industry is constantly inflating just like the technology does. She showed her complete confidence regarding the future of crypto and said that the present bull-run will continue for a minimum of 10 years in general as now is an unusual situation prevailed around the crypto-world.
BTC requires flawless regulations
As per Wood, the regulations are beneficial, yet the issue is the lack of agreement between the different regulatory entities regarding the crypto nature. She further elaborated that these problems can be resolved by unifying the criteria about crypto regulations. Although technology is venturing rapidly than politics nowadays, consequently, both of them will end up meeting each other.