ARK Invest’s Cathie Wood says digital assets are poised for a historic run following the election of Donald Trump and a looming pro-crypto political climate.
In a new update for investors, Wood says crypto technology – which she believes is a crucial part of the internet that hasn’t yet been built – was at risk of being shut down by the US Securities and Exchange Commission (SEC).
But with a pro-crypto political government poised to take power, Wood says digital assets have a chance to have one of their greatest runs in history.
“On the digital asset front, I said Bitcoin is a big part of this administration’s plans, including building a strategic reserve. We are very enthusiastic about that. We think this is the layer of the Internet that the developers did not build in in the early 1990s.
And because of the SEC, we were at risk of losing this next big internet wave. Everything around trade, financial services, digital property rights, and now we think this government is going to bring that innovation back home where it started and we’re going to ride that wave again.
So we’re pretty excited about what just happened from an innovation perspective. We believe that deregulation is crucial to ensure that innovation will actually become one of the greatest developments in history as these technologies are ready after 25 years of germination.”
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