She highlighted the US Securities and Exchange Commission’s (SEC) approach to meme coins, noting that by "declaring these meme coins not securities”, the regulators have essentially said, "Buyer beware […] We think most of them are not going to be worth very much.[…] What we think will happen is […] there’s nothing like losing money for people to learn.” However, Wood underscored that Bitcoin, Ethereum, and Solana are core assets with "use cases […] multiplying” and likely to remain integral in the crypto ecosystem, in stark contrast to the "millions of meme coins” she believes will eventually lose their value.
We see the velocity of money coming down, and we do think we’ll see one or two negative quarters.” She maintained that such economic stress could compel the Federal Reserve to reverse course later this year: "We wouldn’t be surprised to see two or three cuts.[…] We think inflation’s going to surprise on the low side of expectations.” Wood pointed to declining gasoline prices, egg prices, and rents as signals that inflation may be cooling faster than many expect, granting the Fed "more degrees of freedom in the second half of this year.” Turning to regulation, Wood sounded notably optimistic about the "easing regulatory environment” around cryptocurrency.
Related Reading: This Bear Market Indicator Says Bitcoin Price Is Headed For Crash To $40,000, Here’s When Wood also discussed her investment thesis for Robinhood and Coinbase, revealing that ARK views both companies as frontrunners in the battle for digital wallet dominance.
The story "Bitcoin Bull Run Isn’t Over: Cathie Wood Predicts $1.5 Million" has 671 words across 69 sentences, which will take approximately 3 - 6 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin Bull Run Isn’t Over: Cathie Wood Predicts $1.5 Million" was covered 11 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 7 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
