In a recent interview with CNBC, ARK Invest CEO Cathie Wood expressed reservations about U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s stance on Bitcoin (BTC) spot ETFs. Apart from that, she talked about the general cryptocurrency market. She suggested that one altcoin project in particular is better than Ethereum. Here are the latest statements of Wood, who received the title of “Bitcoin bull” due to his Bitcoin investments in ARK Invest and his positive attitude towards the market…
Cathie Wood talked about Bitcoin and ETF process
Despite Gensler’s deep understanding of Bitcoin, highlighted by his role as a crypto and blockchain instructor at the Massachusetts Institute of Technology (MIT), Wood struggles to understand his resistance to spot ETFs. Underlining Bitcoin’s transparency and decentralization, Wood said, “This is a decentralized, transparent network. You can track all activities; It is extremely unlikely that it will be manipulated.” Gensler also acknowledged Gensler’s desire to become Treasury Secretary, suggesting that this desire may be influencing his decisions, considering that the US Treasury Secretary is primarily focused on the US dollar.
Amid the uncertainty surrounding the approval of the Bitcoin spot ETF, Wood remains optimistic about the future of cryptocurrencies. He predicts significant growth in cryptocurrency market value, predicting that it will rise from the current $1 trillion to a staggering $25 trillion by 2030. Wood believes that the approval of the spot ETF will serve as a crucial catalyst for this projected growth. It is noteworthy that Wood’s positive perspective on the cryptocurrency market continues despite the SEC’s current reservations about spot ETF applications. In the interview, Wood highlighted the broader potential of crypto assets and their transformative impact on the financial landscape.
Altcoin Solana is also in Wood’s focus
In addition to his remarks about Bitcoin in his CNBC interview, Wood also touched upon Solana. Comparing it to Ethereum, he noted that although Ethereum has higher transaction speeds and lower transaction costs than Bitcoin, Solana outperforms Ethereum in both aspects. Wood’s recognition of Solana is critical in the blockchain and cryptocurrency space. Because it added a new dimension to the competition between Ethereum and Solana. cryptokoin.com As we reported, Solana is known as the “Ethereum killer”.
As the crypto community closely monitors regulatory developments, Wood’s insights are critical. Moreover, his predictions continue to shape the narrative regarding the future of crypto assets. As a result, it offers a glimpse into the potential trajectory of the cryptocurrency market in the coming years.
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