ARK Invest’s Cathie Wood says that digital assets are ready for a historic run following the election of Donald Trump and an impending pro-crypto political climate.
In a new update to investors, Wood says that crypto technology – which she believes is a critical part of the internet that hasn’t yet been built – was at risk of being shut down by the U.S. Securities and Exchange Commission (SEC).
But with a pro-crypto political administration poised to assume power, Wood says that digital assets have a chance to go on one of their biggest runs in history.
“On the digital asset front, I mentioned that Bitcoin is very much a part of this administration’s plans including building a strategic reserve. We’re very excited about that. We think that this is the layer of the internet that the developers in the early 90s did not build in.
And we were at risk because of the SEC of losing this next big wave of the internet. All around commerce, financial services, digital property rights, and now we think this administration is going to bring that innovation back home where it started and we’re going to ride that wave again.
So we’re pretty excited about what has just happened from an innovation point of view. We think that deregulation is critical in really allowing innovation one of the biggest runs it will ever have in history now that these technologies are ready after 25 years of germinating.”
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