Cathie Wood – Bitcoin Will Literally Change EVERYTHING In 2024

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Just this week, ARK Invest CEO & Founder Cathie Wood hosted an interview with Elon Musk on twitter.

Within the interview, Cathie answers a variety of questions, including what she thinks 2024 holds, the future of Artificial Intelligence and her latest thoughts on Bitcoin.

Bitcoin investors like Elon Musk, through Tesla followed in the footsteps of Michael Saylor in 2021 buy buying $1.5 Billion dollars worth of the digital currencyTesla then sold 75% of their Bitcoin in 2022 at a loss.

They now hold just under 10,000 bitcoin, worth roughly 425 Million dollars. Ironically, if they had held their entire stash until now, they would be back in a profit.

Since selling, Elon Musk hasn’t spoken much about bitcoin or crypto until now.

Make sure to stick around to the end of the video where Cathie gives her prediction on Bitcoin for 2024.

Cathie Wood – Bitcoin Will Literally Change EVERYTHING In 2024

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On bitcoin as we get ready for the sec’s approval of a spot Bitcoin ETF we think it is going to happen there are all kinds of signals that it’s going to happen invest the time and the money so important in this conversation around spot Bitcoin ETFs come into

Market how high could btc’s price go when the spot ETFs are approved but also to protect you against fraud and manipulation ASC staff engaging with issuers of a number of which have filed for spot ETFs Kathy Wood gives us an update on the pending Bitcoin ETF approvals which

Could be as early as January 8th however even if the SEC grants approval by January 8th there could be a delay of more than a month before the actual launch the potential obstacle to the spot Bitcoin ETF approval May lie in Gary gendler’s political Ambitions despite gendler’s in-depth knowledge of

Bitcoin as the SEC chair it’s puzzling to find a logical reason for his reluctance to support a spot ETF AR invest CEO Cathy wood highlights the decentralized and transparent nature of the Bitcoin Network making manipulation highly unlikely let’s get right into the interview with Cathy wood don’t forget

To hit the like button and subscribe if you enjoy the content we do here on this channel the last chart here is just a performance uh chart year-to dat returns and just wanted to show you where Bitcoin is it’s been the best performing asset this year um and you can see see

Where other categories of equities and fixed income have been uh it’s been a pretty good year overall um Bitcoin having an especially an especially Good Year and I think it’s because uh in March we learned that Bitcoin is not just a risk on asset it

Is a risk off asset and uh why why is it a risk off asset it’s a riskof asset because there’s no counterparty risk uh when everyone was worried about their deposits in the banking system in March they were worried because of counterparty risk they just banks are Opa opaque whereas the Bitcoin

Blockchain is transparent and it’s decentralized where Banks tend to be centralized so a huge proof of concept uh so this realization wait a minute Bitcoin is a risk on asset and a riskof asset that’s crazy we don’t have too many of those uh so pretty interesting

In terms of the sectors that have done well this year uh I was surprised as you know we are index agnostic and we think that sectors are converging because technology is blurring the lines between and among them but if you use the gixs classification you’ll see real estate uh uh in the last

This is in the last month real estate Industrials and financials have been the the best three categories the reason I was surprised by that is it was a very good period for Innovation based strategies like ours uh which uh are index agnostic uh that typically isn’t the case when Real

Estate Industrials and financials are the best performing categories um worst were energy it was the only negative uh sector consumer staples and healthc care so those last two or more defensive categories uh that does make sense in the context of how uh innovation-based strategies like ours uh

Performed so uh it’s been it’s been a great great uh uh rebound from the lows in October just a a massive rebound and has transformed the year for uh a lot of asset managers either for the better or for the worse um and if we’re right and

Inflation is going to uh surprise on the low side of expectations and growth disappoints um will be in a period where Innovation does its best Innovation solves problems if you need uh to protect your margins as your pricing power disappears uh then you need productivity enhancing technology and with the uh

Breakthroughs in artificial intelligence and you know we Marvel all the time uh uh about the breakthroughs in AI as AI training costs drop 70% per year um you know there’s a a boom out there and that is what happens when prices drop and prices associated with disruptive new

Technologies always fall so it’s a perfect environment uh for our companies to thrive uh and I’ll close right now by um featuring uh two uh pieces we’ve put out recently uh both of them interestingly are uh on bitcoin as as we get ready for uh hopefully uh the sec’s approval of uh

A Bitcoin a spot Bitcoin ETF um we think it is going to happen there are all kinds of signals that it’s going to happen Kathy Wood also discusses the widespread anticipation of the Bitcoin ETF with investors emphasizing the importance of digital wallets as well as blockchain networks like salana the crypto Community eagerly

Awaits further developments as these analyses and the SEC decision on the Bitcoin ETF are likely to have significant impacts on the Market’s Direction in the days and weeks ahead a chart showing what expectations have been for fourth quarter GDP growth ever since uh October and you can see uh in

The GDP now um purple line there the growth expectations have been coming down Bloomberg expectations were very low and seem to have come up but they’re both converging uh in into sort of the one one to one and a quar range which is which is very low um of course and not

Too far from negative uh which is where uh we would not be surprised to see real GDP growth ago some point next year um now we got a consumer sentiment uh measures today you can see just looking going back into the early 80s you can see that consumer sentiment is quite

Depressed uh by historical standards uh we did get a a little bit of a pop uh today um we’ve been hovering in that 60 to 70 range got closer to 70 with today’s reading uh for this reason uh expected inflation rates so you you can see that if you look at the

Fiveyear uh in the longer term uh inflation expectations as as shown by the green line they never really veered from where they’ve been since 2000 uh which was a disinflationary time it was those shortterm uh the next year expectations that popped above 5% which is not terribly unusual the

Same thing happened um in as the Fed was stimulating um in in 2008 uh and then of course they came right back down they’re coming down again now we had an unusually large decline it w it had popped to something over 4% and now we’re back down to the

Low 3% and you can see again that’s not too far where we have been from where we we have been and yet the fight the FED has been fighting this inflation Dragon you’d think that ex expectations were uh where they were in 1980 and and had been

Building for 15 years uh we got to 10% inflation expectations then we got nowhere near that and yet the FED with uh 24 fold increase in interest rates uh from 0.25 to 5.5% in little more than a year’s time has been slaying a dragon we don’t think that Dragon existed and we

Do think we’ll see the ramifications of this uh policy during the next year or so in the form of much weaker than expected inflation and uh and economic statistics uh we wouldn’t be surprised to see the broad-based inflation gauges go negative uh and then of course the FED will be

Fighting a completely different battle uh here is uh temporary employ uh help employment you can see it’s a leading indicator uh the the green line is total employment uh temp temporary help is the um purple line and uh by this time in past Cycles uh the the total employment was

About to to turn down when uh temporary help had reached this kind of a decline and we do think that will happen next year that’s part of why we think consumption will pull back Kathy Wood points out with real money now flowing in she emphasizes that the crypto Market

Has become more significant than ever institutional investors are driving the price of cryptocurrency which will yield massive gains in the next 3 months wood believes this will underscore bitcoin’s enduring relevance as an asset and as a hedge against against currency devaluation she anticipates that BTC will continue its parabolic run right

Into the harving of 2024 Cathy Wood’s main focal points this year has also been the movement in crypto legislation in the house signaling the growing interest in the crypto space although crypto legislation might face challenges due to political opposition wood advises the company in which she invests to spend heavily now

In order to take advantage of huge growth potential she estimates that arc’s concentration on technology advancement is worth about 7 to8 trillion or less than 10% of global equities markets Emerging Markets are relying on digital currency and Cathy believes that based on the current market Outlook decentralized finance

Will take over and usurp the roles of most financial services companies today they’ll be able to offer lower rates to Savers and higher rates to borrowers what do you think of Kathy Wood’s interview on The Current financial Market comment down below thanks so much for watching don’t forget to hit the

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