Star Crypto Investor: Cathie Wood: Crypto World Around Bitcoin, Ethereum & Co. Threatens Banking System | news

Bitcoin will surpass $1 million by 2030
Talents and companies are migrating to the crypto industry
Transformation of financial transactions on the blockchain

Bitcoin started the revolution for DeFi (decentralized finance) and is also crucial for Web 3.0, she wrote in a post on the public trading app. Wood remains convinced of the success of Bitcoin and Ethereum as integral parts of his investment strategy.
In the Public Trading App Town Hall Forum (01/02/2022), when asked about the recent losses of the ETF ARK Innovation, she replied that she was interested in long-term investments, that market volatility was equated at risk, that she was investing in the future and not in short-term gain. Therefore, ARK Investments is focusing on the next five years, not the next quarter. ARK Big Ideas 2022 sets the timeline to 2030.

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The investor and cryptocurrencies

When asked which cryptocurrency she trusted more, Bitcoin or Ethereum, Wood wrote that Bitcoin is the deepest application of public blockchains, the “foundation of ‘self-determined’ digital currency” . The Bitcoin protocol has enabled two revolutions, that of the Decentralized Financial System (DeFi) and that of Web 3.0. They trust both cryptocurrencies, but since the currencies are geared towards different purposes, they cannot be compared to each other.
With blockchain technology, traditional financial institutions that regulate access to financial services will become obsolete in the long run. And with that, banks have a problem, startup investor Cathie Wood told CNBC at the Bitcoin 2022 conference in Miami. They are losing both business and talent to the crypto world. The growing interest of institutional investors in the decentralized financial system of the crypto world now threatens the traditional banking world.

Cryptocurrencies were originally created to circumvent traditional institutions, and now banks can feel it, she said in an interview with CNBC’s “Crypto World.” It is also significant that along with political institutions, another part of the establishment is now reacting positively to cryptocurrencies, such as US Treasury Secretary and former Fed Chair Janet Yellen. He had recently been more open to cryptocurrencies and had thus made a one hundred and eighty degree turnaround.

ARK 2022 Big Ideas

In their 2022 Big Ideas, ARK analysts illustrate how public blockchains will replace institutions with decentralized, open-source software and rely on a global peer-to-peer network to enforce rules, not individuals. or institutions. This infrastructure serves as the basis for new forms of economic coordination and minimizes the need to depend on centralized institutions. Another advantage is the reduction of coordination costs. ARK compares the adoption of the blockchain to that of the Internet: just as the Internet transformed information into packets, on the blockchain, all assets could be converted into blockchain transactions. This would then have maximum effects on all systems.

Concerns about Bitcoin’s lack of sustainability are misplaced, Bitcoin could instead change the history of money towards evenly distributed financial freedom on a global scale, the report continues. Bitcoin mining as a fast-growing industrial sector and innovations in the production and use of energy by bitcoin miners could also fuel success.

Bitcoin price target at $1.36 million

The ARK research report pegs the price of Bitcoin at $1.36 million in 2030, which is huge even for Bitcoin enthusiasts. Since cybercurrency cannot be measured by revenue or profit, predictions for bitcoin are based on its prevalence and importance in financial transactions.
It remains to be seen how Bitcoin will fit into the financial system and to what extent the statements made by ARK analysts regarding the transformation of the majority of financial transactions on the blockchain are correct.

editorial office finanzen.net

Image credits: Cindy Ord/Getty Images for Bloomberg Businessweek, Tomas Daliman / Shutterstock.com

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