Ark Funding Administration Founder and CEO Cathie Wooden joined Benzinga’s “Raz Report” for an exclusive interview Wednesday. Wooden shared her ideas on cryptocurrency and the rise within the valuation of Bitcoin.
Wooden on Cryptocurrency: Wooden listed Bitcoin as two of the factors within the Ark Funds’ Big Ideas list for 2021 and on.
“We’re very optimistic about Bitcoin specifically,” Wooden stated.
Public Corporations Shopping for Bitcoin: Wooden expects extra institutional curiosity in shopping for Bitcoin. Wooden highlighted a number of corporations like Tesla Inc (NASDAQ: TSLA), Sq. Inc (NYSE: SQ) and MicroStrategy Inc (NASDAQ: MSTR) which have added Bitcoin to their steadiness sheets.
Wooden additionally highlighted Mass Mutual, an insurance coverage firm. Whereas the acquisition might have been small, Wooden talked about this was doubtless an enormous hurdle for an insurance coverage firm and reveals the conviction corporations have for the cryptocurrency.
“What’s the explanation to not diversify,” Wooden asks of corporations not including Bitcoin (CRYPTO:BTC).
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How Excessive May Bitcoin Go: If all companies put 1% to 10% of their money steadiness into Bitcoin, the valuation of the cryptocurrency may rise considerably: “That may add $40,000 to $400,000 to the Bitcoin value,” Wooden stated.
NFT Progress: One of many scorching tales within the cryptocurrency market has been the rise in gross sales and valuations of NFTs, or non-fungible tokens.
“We’re very excited,” Wooden stated on NFTs.
She highlighted async art, a platform that helps artists promote their work as NFTs.
“We’re going to attempt to do that ourselves,” Wooden stated on NFTs. Wooden talked about probably partnering with async artwork.
Authentic artists are capable of have their title on the paintings ceaselessly and may earn royalties on further gross sales of the work and different individuals constructing on high of it: “That’s the beauty of blockchain expertise.”
BTC Worth Motion: Bitcoin is buying and selling round $50,696 on the time of writing.
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