• Cathie Wood, CEO of asset management firm Ark Invest, declared her ongoing confidence in the crypto space.
• She praised Bitcoin for being the most decentralized and transparent blockchain and compared it to other blockchains like FTX.
• Wood believes that there are three revolutions being fuelled by the rise of crypto: money revolution, financial services revolution, and digital property rights.
Cathie Wood Sticks with Crypto
Popular tech-focused fund manager Cathie Wood has declared that she will stick with her crypto investments while praising Bitcoin (BTC) and Ethereum (ETH). In an interview with CNBC on Monday this week, Wood spoke highly of Bitcoin’s decentralization and transparency as a blockchain. She also made comparisons between FTX founder Sam Bankman-Fried’s preference for other blockchains over Bitcoin due to its lack of control.
Wood’s Confidence in Cryptocurrency
Wood also discussed how cryptocurrency is disrupting traditional finance and making an impact on broader society by fueling „three revolutions:“ money revolution (mainly Bitcoin or Bitcoin/Ether), financial services revolution (Ethereum), and digital property rights („Web3“). Her comments gave viewers confidence that decentralized blockchains have staying power since they did not stop during the market downturn last year.
Comparison of Blockchains
Wood made a comparison between various blockchains during her interview – FTX was described as „completely opaque and centralized“ whereas both Bitcoin and Ethereum were praised for their decentralization and transparency which kept them functioning during market dips. This showed viewers that these two popular cryptocurrencies may have staying power due to their strong fundamentals.
Wood believes that the rise of crypto is fuelling three distinct revolutions: money revolution (Bitcoin or Ether), financial services revolution (Ethereum) ,and digital property rights („Web3“). These different revolutions could make a profound impact on society if they remain resilient despite market volatility.
Overall, Cathie Wood expressed her ongoing confidence in cryptocurrency during her CNBC interview on Monday this week by praising both Bitcoin and Ethereum for their decentralization, transparency, and resilience during market downturns. She also believes that the rise of crypto is fuelling three distinct revolutions: money revolution, financial services revolution ,and digital property rights – all of which could have a profound effect on society if they remain resilient despite market volatility.