- Cathie Wood links the SEC Bitcoin ETF delay to Gary Gensler’s political ambitions.
- Wood refutes Gensler’s concerns about Bitcoin manipulation, emphasizing its decentralized and transparent nature.
- Wood expresses optimism for crypto’s future, predicting a monumental growth to a $25 trillion market cap by 2030.
In a recent CNBC interview, Ark Invest CEO Cathie Wood raised intriguing speculations about the delay surrounding the approval of a spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC).
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A known advocate for Bitcoin, Cathie Wood shared her insights on the SEC’s hesitancy to approve the ETF, attributing it to Gensler’s concerns regarding potential manipulations within the Bitcoin market. However, Wood countered this viewpoint, highlighting Bitcoin’s inherent decentralized and transparent nature. She emphasized that Bitcoin operates on an open network, allowing anyone to trace its activities online, dismissing claims of easy manipulation.
During the interview, Wood hinted at the possibility of Gensler eyeing the Treasury Secretary position in the future. She proposed a connection between Gensler’s political ambitions, the necessity for a strong allegiance to the dollar in the Treasury role, and his purported obstruction of Bitcoin’s growth despite possessing substantial knowledge about the technology.
Looking forward, Wood expressed a buoyant outlook for the cryptocurrency landscape, foreseeing favorable conditions that could lead to exponential growth. She highlighted recent regulatory advancements as crucial steps in integrating institutional entities into the crypto sphere effectively.
Wood’s optimistic vision extends into the future, projecting the crypto market to surge significantly. She outlined a bold prediction, envisioning the industry skyrocketing from its current valuation of around $1.4 trillion to a monumental $25 trillion by the year 2030. Wood firmly believes that institutional adoption will serve as a catalyst for this extraordinary expansion, maintaining a bullish stance on the digital assets industry.
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