ARK Investment Management head Cathie Wood is making a bold prediction about the future of finance and technology.
Wood tells her 1.5 million Twitter followers that once the Federal Reserve pivots, a surging economy reminiscent of the “Roaring Twenties” is likely to follow.
She says once the economy starts surging, blockchain technology, along with four other tech innovations, will come out ahead.
“Today, five major innovation platforms are evolving at the same time – multiomics sequencing, robotics, energy storage, artificial intelligence, and blockchain technology, all of which are converging! Tesla is leading the ‘charge’ in three, but I wouldn’t be surprised to see four–five.
Once the Fed stops looking backward at CPI inflation and starts addressing the deflationary banking crisis that a 19-fold increase in short rates and an inverted yield have caused, we would not be surprised to see a return to the Roaring Twenties.”
The Bitcoin bull also says the US bank collapse showed the benefits of cryptocurrencies. She says crypto remained stable and networks performed reliably during the banking failures.
“While the US banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn’t skip a beat. Instability in the banking system threatened stablecoins, the on-ramps to DeFi [decentralized finance], in stark contrast to regulator rhetoric.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney