The CEO of Ark Invest indirectly responded to criticism that was made towards cryptocurrencies; specifically, to the responses of John Paulson, who suggested that cryptocurrencies and Bitcoin are simply speculation; in addition, he also added that they will surely enter a lasting decline in the short or medium term.
Cathie Wood, CEO of Ark Invest, a large asset management company, discussed via Yahoo! Finance about Paulson’s comments, pointing out that the cryptocurrency market is far from being a financial bubble as many would have it believe. To continue; the details.
Ark Invest CEO Defends Cryptocurrencies Against Criticism From Paulson & Co. CEO
During the meeting that was held, the founder of Ark Invest demonstrated her devotion to cryptocurrencies in general and to Bitcoin. It is a fact that was noted with the statements she made while being interviewed by Yahoo! Finance on Saturday, September 4.
One of the points he defended was Bitcoin’s recent rally from $ 29K to its current price at $ 52K. There he points out that cryptocurrencies are simply a generational phenomenon that will continue to evolve as the days go by and as the technology continues to mature.
They are not simply overvalued assets; is what Wood makes the interviewers of Yahoo! Finance, as it pointed out that cryptocurrencies or Bitcoin are not a bubble, and these are far from being one, he added. Exactly, his words to the public were:
More details of the interview
More than defending cryptocurrencies, he also showed that he supports the new monetary system that is developing thanks to them. For example, the possibility that more young investors join the system, get educated and support growing projects; as is the exchange Robinhood, Binance or others.
Exactly, he suggested that Robinhood introduced a new group of investors to the market; which is really positive, because they learn to invest and create trading strategies, and this benefits them, he pointed out during the dialogue.
To conclude, one of the most outstanding quotes; In addition to the one mentioned before, is the following.