- ARK Invest’s Cathie Wood believes that a downtrend for the crypto markets could soon be over as markets are now capitulating everywhere
- She predicted that market capitalization truly “disruptive innovation” will grow exponentially to $210 trillion by 2030
The CEO of wealth management firm ARK Invest, Cathie Wood, remains unfazed by the long-term behavior of the asset class, despite the recent decline in the price level of the asset class cryptocurrencies.
Speaking of during an appearance in a recent update of the into knowledge Series, the head of ARK Invest explained that the increased co-movement between crypto assets and the stock market, which has caused the currently unimpressive run, is a sign that the bear market could come to an end. She said a bearish environment for crypto assets could soon bottom.
“Crypto, a new asset class, shouldn’t look like Nasdaq, but it does. It’s highly correlated at the moment. You know you are in a bear market and maybe nearing the end when everything starts acting the same and we are seeing market after market capitulate.” wood observed.
Blur the noise and expect a boom
ARK Invest’s CIO has always been bullish, exemplified by her firm’s bold bets on crypto investing. Wood believes the recent storm in crypto waters will only be temporary. She added that just like ARK’s other investment strategies, crypto assets will explode over the long term.
Wood envisions exponential growth whose disruptive nature will keep it alive in communities and societies.
“With the desolation in the stock markets and bond markets today and now increasingly so in the commodities markets and crypto, take a look at our research, read our Twitter profiles for some hope and optimism as I can’t tell you how excited and confident we are that our platforms will change the world and are now entering exponential growth paths. That’s not in five years. We are now living the reality that was just a dream in the tech and telecom bubble.” she guessed.
Wood even provided a set of growth numbers she expects. Citing her experience, which now spans almost five decades, she insisted that there is tremendous opportunity in this current space of the market. In particular, she predicted that the exponential growth of “truly disruptive innovation” will grow for the current market cap of $10 trillion to reach $210 trillion by 2030.
Source: Crypto News Deutsch