ARK Invest CEO predicts the explosive growth of the main crypto coin in the near future
ARK Invest CEO Cathie Wood said that the company’s current strategy is based on the explosive growth of BTC in the short term and on the growth of the crypto industry within 7–8 years. In her opinion, the increasing correlation between digital and traditional assets indicates the imminent end of the bearish trend.
Wood believes that the decline in the price of bitcoin amid the fall of the traditional market is a temporary situation. Over the past 7 days, according to Coinmarketcap, the BTC rate has decreased by almost 20%. Now the first crypto coin costs about $31,580.
“Cryptocurrency is a new asset class that shouldn’t follow the Nasdaq, but that’s exactly what is happening. We are now in a bearish trend where all assets are moving in the same way and we are seeing one market capitulate after another, but cryptocurrencies may be close to completing it,” Wood said.
Despite the current decline in the digital currency market, the CEO of ARK Invest remains confident in the long-term outlook for crypto assets and builds the company’s investment strategy based on this forecast. The entrepreneur believes that the crypto industry will grow exponentially against the backdrop of a decline in the popularity of traditional assets.
“The current recession in the stock and bond markets, commodities and crypto markets is causing negative sentiment among investors. But take a look at our research, read our Twitter: we are excited, filled with hope and optimism. I can’t even tell you how confident we are that our products will change the world and are already on an exponential growth trajectory,” Wood said.
According to her, blockchain is one of the technologies with the potential for significant growth. According to Wood, these areas of the economy together will grow more than 20 times within 7–8 years.
“I have been in this business for 45 years and have never seen the opportunity that I see now. According to our expectations, these are truly breakthrough innovations, which are now valued on the global public equity markets at about $10 trillion, which is approximately 10% of the capitalization of the global equity market. We believe that by 2030, $10 trillion will grow to $210 trillion,” summed up Cathie Wood.
And the latest CoinShares report says that the fall in the digital currency market was a prerequisite for the growth of Bitcoin investment, but did not provoke an increase in interest in ETH. Analysts noted that earlier crypto funds raised funds totaling $40 million.
Experts believe that investors took advantage of the situation and purchased large amounts of digital currency. CoinShares notes that they have not yet recorded such an increase in activity in the trade of investment products during a sharp drop in prices.
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