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Saturday, September 18, 2021

Bitcoin (BTC) requires more precise regulation, says Cathie Wood, director of Ark Invest

Cathie Wood, CEO of Ark Invest, thinks that the cryptocurrency markets are far from the price bubble and says that what Bitcoin (BTC) does need is regulation that will clarify everything. (Also Read: Why SOL could reach $ 350, thus demonstrating threefold growth)

Will outperform gold

During the interview with Yahoo Finance , the finance specialist assured that the future of cryptocurrencies is quite promising. Wood disagrees with John Polson’s recent criticism of cryptocurrencies, particularly bitcoin. He argues that bitcoin will succeed in surpassing gold as a depository of cost to our digital world. (Must Read: Residents of El Salvador refuse to accept Bitcoin (BTC))

A few days ago, Polson told the Bloomberg agency that, in his opinion, cryptocurrencies will eventually lose their meaning: “Many will disagree with me, but I suppose you don’t need to invest in cryptocurrencies. At the end of the day, I think that cryptocurrencies, regardless of where they are traded now, whether they go up or down, they will become useless. “

Cathie Wood refuted his words, saying: “We (Ark Investment) believe that you don’t realize what cryptocurrencies are, they are more than a deposit of cost or digital gold. Bitcoin is a new global monetary system that is completely decentralized and does not depend on the whims of politicians.

Cathie Wood thinks the popularity of cryptocurrencies is justified

In the talk, Wood also told about his investments in Coinbase and Robinhood that rank as the most prominent exchanges in the US He noted that Robin Hood’s move to cryptocurrencies has been very positive for his business model, and although the SEC may be trying to tighten supervision, he does not expect any negative changes in the near future that may upset investors.(Exclusive: JPMorgan analyzed the current position of Bitcoin (BTC) and other cryptocurrencies)

On the other hand, Cathie Wood underscored how comfortable she felt investing in Coinbase. This single publicly traded exchange of cryptocurrencies is a global exemplar that ticks all the boxes overall, she says.

Cathie Wood does not think that cryptocurrencies are in the price bubble. Wood assumes that the cryptocurrency industry is simply growing as technologies develop and the frenzy in demand for digital assets is quite justified. She is sure that the current rebound will last at least another 10 more years.

Bitcoin (BTC) requires more precise regulation

Cathie Wood is not cyberpunk, nor does she propose to destroy the financial system that exists. On the contrary, he is advocating for more precise regulation by virtue of the fundamental factor for cryptocurrencies to be supported globally. However, according to her, the main problem is that there is no common opinion among various bodies that regulate cryptocurrencies.

 “If regulators get together and come to an agreement on what exactly cryptocurrencies are and how to define them, it would be good. The certainty would be good for the development of the ecosystem ”.

Currently, the cryptocurrency industry is in a delicate situation precisely due to the diversity of criteria that exist among regulators. The bipartisan bill that draws a lot of criticism for a trillion dollar price tag may carry some pretty significant risks for crypto companies aspiring to establish themselves in the country. Technology may be moving faster than politics at the moment, but at some point they will have to meet and come to an agreement. (Must Read: Elon Musk praised the success of Dogecoin developers)

According to Cathie Wood, executive director of Ark Invest, she thinks the cryptocurrency markets are far from the price bubble, therefore, what Bitcoin (BTC) does need is regulation that will clarify everything. The crypto industry is simply growing as technologies evolve and the frenzy in demand for digital assets comes naturally.

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