The Chief Executive Officer of Ark Invest, Cathie Wood, spoke recently on the outlook of the market seizing the opportunity to shower love on BTC and the whole industries around the crypto space.
In discussion with Yahoo Finance, the recognized expert in the financial industry reaffirms his belief in the future of the crypto space, claiming it is very bright. She did this to disagree with the recent crypto criticism from the billionaire investor, John Paulson, who claimed gold is still a good store of value than Bitcoin.
As reported some days ago, John Paulson, in an interview with Bloomberg, shared his view on cryptocurrency. He said the asset class would eventually go down to zero. He affirms that many people will disagree with his point of view, but he wouldn’t pick cryptocurrencies for anything.
In the discussion, Wood spoke about her crypto investments in Robinhood and Coinbase, which are the recognized regulated crypto exchanges in the US.
She said the shift from Robinhood to cryptocurrencies is very good for its current business model. Though pressure came from the US regulator, she is not expecting any harsh changes in the future that will raise the alarm for the investors.
Also, she spoke about the comfortability that comes with her latest investment in the crypto exchange Coinbase, which is the only public listed crypto exchange and global yardstick for regulation compliance.
From Wood’s perspective, crypto is no bubble, and she believes that crypto is a generational phenomenon as the technology and the industry is fast evolving and growing. There is a level of assurance she has that the present bullish run in the market is not over, and she predicted that the general growth of the space would last for ten years.
The Need for Clearer Regulation in the Crypto Space
Saying Cathie Wood is cyberpunk is far from it as she doesn’t want to pull the current financial system down. Her advocacy is for an accurate and precise regulation as it will contribute to the fundamental growth and adoption of cryptocurrency globally.
“For me,” she said, “crypto regulation is a good thing, but the problem is the divergence in interest on cryptocurrency among the regulatory bodies.”
Currently, in the USA, the digital asset industry is in a delicate state as there are different criteria from regulators. Also, the political outlook of the country seems to have a strong influence on the market too. The question is can we say technology is growing faster than politics? Sooner or later, they will meet.