Cathie Wood It is about keeping faith. Although many people have a tendency to lose faith, investors Fliegt Tesla and Ark Invest’s CEO is optimistic about cryptocurrency and its long-term future. Tesla, Bitcoin, and cryptocurrency exchange Coinbase—all hammered this year—and It is important to invest accordingly
Ark Investment Management bought almost 75,000 shares last week TeslaCoinbase is close to 300,000. and more than 315,000 Grayscale Bitcoin Trust, the struggling cryptocurrency trust according to Bloomberg.
These investments aren’t for the weak of heart. Tesla Shares have dropped 61% since their peak in late 2013. Coinbase shares fell to an all-time low This week’s decline was more than 80% compared to the previous year. Bitcoin, the most popular cryptocurrency, lost more than 60% this year.
It is not possible for everyone to be sold. on Wood’s optimism. As the Wall Street Journal reported This week even more people will be able to participate investors They are becoming less confident in the flagship ARK Innovation ETF. The shares of this fund are at a loss by about 60%.
Despite the collapse of FTX, it still shook investors’ faith in all things crypto, “our conviction in the underlying public blockchain infrastructure, which continues to operate as designed, has only increased,” Frank Downing is a ARK researcher director. video This month, the company posted to Twitter.
Samstag, Wood tweeted, “The Bitcoin blockchain didn’t skip a beat during the crisis caused by opaque centralized players. No wonder Sam Bankman Fried didn’t like Bitcoin: It’s transparent and decentralized. He couldn’t control it.”
She also runs her own business shared data on Bitcoin trading showed that long-term bitcoin holders held a flat supply during November. This indicates those who are interested in Bitcoin trading. investors Have a “long term focus and high conviction” Despite the chaos. Bloomberg interview last month, she reiterated her prediction Bitcoin would hit $1 million by 2030 (it’s now below $17,000), and said it’s “coming out of this smelling like a rose.”
She said that Coinbase could benefit from the uncertainty around FTX.
“This is an onshore, regulated company,” Not noted Wood An article interview Bloomberg, last month. “I think that Coinbase is going to come out here looking very, very strong. It just lost a very big competitor in FTX.”
Brian Armstrong, CEO of Coinbase, spoke at a cryptocurrency event just weeks after the collapse to argue that Coinbase was a publicly traded company. and This makes it far easier to understand than FTX.
“You can read our financial statements,” Armstrong spoke. “They’re audited by a third party, you don’t have to trust us. All the customer funds are segregated. We don’t invest any customer funds without their explicit direction.”
Mazars in France, an accounting firm, is featured this week halted its work You can vouchsafe assets that are held as reserve on the cryptocurrency exchange Binance and There are other companies in the sector. Big Four accounting firms were unable to make deals for crypto companies as they’ve sought to boost their credibility amid the FTX fallout.
Wood also reiterated recently that she isn’t worried about Tesla. One major shareholder demanded that Elon Mok be fired as CEO. Musk was too focused on Twitter reorganization to succeed.
According to recent research from S&P Global Mobility, more carmakers will pile into the EV space with lower-priced alternatives—especially with models costing less than $50,000, “where Tesla does not yet truly compete.” Tesla’s EV market share will fall below 20% by 2025, down from 65% this year (through the third quarter), it predicted.
But Tesla It is “grabbing a disproportionate share, and will continue to do so, of a market that we think by 2027 will account for 85% to 95% of all cars sold in the world,” She told Bloomberg. “That’s on automatic pilot.”
Despite her doubts regarding her investments and strategy, Wood Recent tweets stated that her funds companies are “sacrificing short-term profitability for exponential and highly profitable long term growth.”
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