.CathieDWood is still bullish on cryptocurrencies and blockchain
with CNBC, Ark Invest CEO Cathie Wood sounded upbeat about the future of cryptocurrencies, stressing that they"will not be stopped" in spite of the recent market downturn.
Ark Invest outlined its three revolutions around cryptocurrencies in its"Big Ideas" report that was published earlier this year. The Florida-based investment management firm believes that Bitcoin and Ether represent a"money revolution" by creating the world's first private digital monetary system."We are impressed at how robust the ecosystem has been," Wood said.
One of Wall Street's most famous stock pickers says that her team expected the collapse of Terra to cause a severe chain reaction, but the Ethereum blockchain has held up"very well." In the aforementioned report, the Ark team predicted that the market cap of Ethereum could experience a 50-fold increase over the next decade.
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