The ARK Invest website published a letter from CEO Cathie Wood on January 12, 2023. The letter, titled “ What the market overlooked in 2022 ”, talks about the crypto innovations that the manager finds important. The founder of ARK Invest has suggested that stock markets made the mistake of overlooking the latter.
Wallets and blockchain technology: big news, according to Ark Invest
According to Cathie Wood, who predicted $1 million for Bitcoin in 2030, blockchain is an important technology. The founder of ARK Invest believes this is a disruptive technology that is revolutionizing the world especially with digital wallets. He stated this in a blog post on his company’s website.
Then Cathie Wood said inside a chirp this January 13: After the toughest year ever in the stock market for innovation-driven strategies, we just sent our clients this letter highlighting the disruptive technologies already transforming the world. “.
Wood stated that ” innovation solves problems and has always gained popularity in turbulent times “. He also gave examples of breakthrough innovation that the stock market largely ignored in 2022 He mentioned the next generation internet which includes connected TV, digital wallets and blockchain technology.
Wood suggests that blockchain technology and digital wallets, as innovations, help solve problems. In this context, the manager indicated that “ digital wallets replace cash and credit cards “. On the one hand, they were used as ” leading transaction method for offline trading in 2020 “. On the other hand, they ” accounted for around 50% of global e-commerce volume in 2021 “.
In her article, Cathie Wood argued that FTX’s fall has “educated crypto investorsThis painful event would have taught them to be more careful in choosing where to store their cryptocurrencies. The founder of ARK Invest added: “I think the current market dislocation offers an opportunity for innovative strategies to thrive when equity markets recover. The fear of the future is palpable, but the crisis can create opportunities“.
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Far from dampening my enthusiasm, a failed investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to convey information related to this ecosystem with my pen.