The CEO of asset management company Ark Invest has once again reaffirmed her support for cryptos. Cathie Wood spoke highly of this asset class during her interview on CNBC on Monday. She was quick to share her bullish outlook on the two largest cryptos by market capitalization, bitcoin (BTC) and ethereum (ETH).
Cathie Wood praises the performance of decentralized blockchains!
During the Squawk on the Street program on CNBC, Cathie Wood reiterated her position regarding the decentralization of cryptos. She indicated that the Bitcoin and Ethereum decentralized blockchains reassure her about the reliability of the cryptosphere. The CEO of Ark Invest added that in this context, she intends to keep her investments in crypto. Moreover, she clarified that the two biggest cryptos find themselves on the right track.
Separately, the CEO of Ark Invest spoke about Sam Bankman-Fried’s aversion to bitcoin. She pointed to the decentralization of crypto as the reason for this aversion. “Sam Bankman-Fried didn’t like bitcoin. Why didn’t he love her? Because it’s completely decentralized, transparent, he couldn’t control it“Wood explained. According to the manager, Bitcoin is the most decentralized and transparent blockchain within the cryptosphere.
The famous fund manager highlighted that only crypto businesses”completely opaque and centralizedhave collapsed lately. She cited crypto lender Celsius and hedge fund Three Arrows Capital (3AC) in particular. She added that during this time, decentralized blockchains have remained firmly in place.
The CEO of Ark Invest said: “Blockchains, whether we are talking about Bitcoin or Ethereum and many others, have not failed in the task. The transactions did not stop. Also, I think it gave us a lot of confidence that in reality they are on the right track.“.
Cathie Wood explained how crypto is disrupting traditional finance. She indicated that the rise of the new asset class has fostered three revolutions. “There’s the money revolution, which is mostly bitcoin, or bitcoin and ether. There is the financial services revolution, which is Ethereum. Then there’s this notion of digital property rights… it’s Web3said the popular fund manager.
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