ARK Invest’s Cathie Wood says that Crypto will work in the long run – here’s why
ARK Invest founder Cathie Wood is still optimistic that crypto will thrive amid fears of a systemic collapse of the industry.
In a new episode of the In the Know podcast, Wood sier that the digital asset market is in a better position now compared to a few weeks ago when crypto has been relatively quiet in recent days.
“I want to say that I feel much better about what is happening in the cryptocurrency world right now. You will see our Bitcoin Monthly, I want to say that we are neutral to positive. We are waiting for some more capitulation signals, and of course time will tell on the system side “We have not heard of another stress signal in recent days, so that’s good.”
She also says that the current market downturn ensures the long-term outlook for the crypto industry, and emphasizes that the openness of the crypto market can have a significant impact on the traditional financial markets.
“What has happened in the crypto market gives you a sense of why it’s going to work [in the] long term. It is transparent and there is much more confidence in the cryptoecosystem due to its openness and security than I think it is in the traditional financial markets, and when we wonder why the CDSs (credit default swaps) are increasing at these banks. We wonder about the range of returns and how exploited some of these situations are, and we do not know where they are hiding, and so maybe that’s all it is.
It is as if, ok, the crypto market has warned us that this range for returns went too far and there are too many overruns, too much influence around it, hedge funds utilize 10 to one when the return is 2% so they can reach their return targets . Maybe there are some problems out there, and we’ll find out. “
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Featured image: Shutterstock / T Studio / Natalia Siiatovskaia
