Rhythm BlockBeats news, on May 28, ARK Investment Management founder Cathie Wood made a comment at the Consensus 2021 conference that the rise of Bitcoin is underway and it is impossible to stop it.

She believes that although Bitcoin has recently fallen sharply due to the remarks of Tesla CEO Elon Musk and the pressure of the “ESG (Environmental, Social and Governance) movement, over time, regulators will become more aware of cryptocurrencies Friendly. From a regulatory perspective, the United States has always been confusing, but Gary Gensler, the new head of the US Securities and Exchange Commission, will support open thinking.

She predicts that central banks will start buying cryptocurrency assets for use in balance sheets. In the long run, Musk will play a positive role in Bitcoin and improve the environmental image of Bitcoin.

Celebrities such as Lawrence Summers and Ray Dalio recently warned that government and central bank spending could push up inflation this year. But Cathie Wood, who is known for his opposition to traditional views, said that deflation is more likely. She expects commodity prices to fall “substantially”, and technologies such as artificial intelligence and blockchain will help keep business costs down.

“Over time, we think that deflation is much more likely. I know most people think this is crazy, considering the current situation. But we have seen some commodity prices fall. This in turn It may cause some policymakers in emerging markets and even the Eurozone to adopt hard currencies including Bitcoin.”

She said: “In emerging markets, if commodity prices fall, the currencies of many emerging market countries will be under pressure.” “I wouldn’t be surprised if some emerging market central banks start accumulating bitcoin… because they know their currency is working. Devaluation, and as foreign exchange reserves decline, they will be attacked.”

ARK创始人Cathie Wood:对稳定币、DeFi和NFT非常感兴趣

Dalio said at the Consensus conference this week that Bitcoin may become a victim of its own success. Too much success has caused the government to try to ban it because it has become a competitive threat. But Cathie Wood said that governments have recognized that innovation is the key to long-term growth, and technology, whether it is cryptocurrency or the Internet before it, cannot be truly prevented.

“They are all trying to say, “Let us build a better regulatory footprint here so we can attract more innovation.” I think this will happen in the cryptocurrency space, or is already happening,” she said.

Wood said that she was “very happy” to see Gary Gensler and Valerie A. Szczepanik as the new chairman of the Securities and Exchange Commission (sec). As we all know, Gary Gensler is open to cryptocurrency. Valerie A. Szczepanik is the head of the SEC Innovation and Financial Technology Strategy Center.

Wood believes that Bitcoin has proven itself as a store of value and a way to prevent wealth from being confiscated. She said that with the introduction of Layer 2 solutions such as Lightning Network, it has the potential to become a settlement network.

But Ark paid more and more attention to Ethereum, invested in the gray-scale Ethereum Trust (ethereum Trust), and hired Ethereum miners for its fintech analysis team.

“We are very interested in stablecoins, DeFi and NFT. What we are also very interested in is that developers are migrating very quickly (to Ethereum). I always say to our analysts, “Follow developers, watch It depends on what they are doing. Because this is a very obvious signal,” Cathie Wood concluded.