Cathie Wooden, chief govt at ARK Make investments, reiterated her help for cryptocurrencies akin to bitcoin and ether on Monday, regardless of a number of digital asset firms collapsing final yr and recent indicators that U.S. regulators wish to tighten their management over the business.
Wooden referred to as the Bitcoin
community “fully decentralized and clear,” however stated bankrupt crypto firms FTX, Celsius and Three Arrows had been “fully opaque and centralized,” in an interview with CNBC on Monday.
“These had been the businesses that went underneath,” she stated.
Wooden additionally stated bitcoin has been main a “cash revolution,” whereas ether
has been ushering in a monetary companies “revolution.”
The so-called net three, or the subsequent era of the web that some suppose may very well be decentralized, has been main a “third revolution” in digital property rights, Wooden informed CNBC.
“I do know that the easiest way to raise individuals and international locations out of poverty is to provide them immutable property rights. And we expect that net three is all about bringing digital property rights into this new world,” Wooden stated.
In a January report, ARK Make investments predicted that bitcoin would attain virtually $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 document excessive in November, 2021.
Wooden’s funds, which often put money into high-growth, technology-focused firms, had stellar performances within the 2020 and 2021 bull market, however crashed final yr. Its flagship Ark Innovation ETF
fell greater than 67% in 2022, however has regained about 24% up to now this yr.