- ARK Invest’s Cathie Wood is confident that the current downturn in crypto markets is only temporary.
- She predicted that the global market capitalization for truly disruptive innovation will reach $1 trillion.
The chief executive of asset management firm ARK Invest, Cathie Wood, believes that the current bear market in cryptocurrency prices is only temporary. During a recent update of the The Knowledge series, Wood acknowledged that the current declines in crypto markets are correlated with the movements of stock markets.
“Cryptocurrencies, a new asset class, shouldn’t look like the Nasdaq, but they are. You know you’re in a bear market and maybe near the end when everything starts acting the same way, and we’re seeing market after market capitulate.” Wood observed.
Wait for an Upturn and Make Some Noise
Wood’s bullish attitude on crypto investments is further demonstrated by her bold predictions. She believes that the recent crypto storm will be short-lived, and that the asset class will eventually reach an explosive growth trajectory.
“Given the monotony of the stock and bond markets today and now increasingly the commodity and cryptocurrency markets, take a look at our research, read our Twitter profiles for some hope and optimism because I can’t tell you how excited and confident we are that our platforms are going to transform the world and are now entering exponential growth trajectories. It’s not about five years from now. Now we are living the reality that was just a dream in the bubble of technology and telecommunications”. Wood said.
The ARK Invest CIO gave a concrete estimate of the growth she expects, citing nearly fifty years of experience and the great opportunity in the current market. She predicted that the market capitalization for disruptive innovation will reach $1 trillion and go up to $210 trillion by 2030.
