Non-fungible token: ARK Invest founder Cathie Wood: NFT business will be ‘explosive’ – similar to internet innovation | news

• Crypto fan Cathie Wood sees Bitcoin at $ 500,000
• NFT Trend: “That’s exactly how I felt when the Internet first emerged.”
• The ether price may be driven by NFT hype

Cathie Wood is dependent on innovative trends at an early stage

Star investor Cathie Woods investment company, ARK Invest, is known for quickly entering new trends. And that’s why Wood’s business offers investors the opportunity to invest in new, innovative technologies through exchange traded funds. Since 2014, ARK Invest has led the ARK Innovation ETF, which contains shares from companies such as Tesla, Telladoc and Roku, but the ETF range has now also been expanded to specific sectors. In the spring, stock exchange legend ARK launched the Space Exploration & Innovation ETF, which focuses on companies involved in space travel or benefiting from growth in the industry.

Bullish forecast: Bitcoin to $ 500,000

Wood and her investment company are also up to date when it comes to cryptocurrencies. In the past, the market expert has always been optimistic about the price of the largest cryptocurrency weighted by market value, Bitcoin. Even after the price of the Internet currency plummeted in the spring, Wood promised its support and stuck to its $ 500,000 price target. That the investor thinks highly of the cryptocurrency also became clear when it became known that ARK Invest was working on its own BTC ETF. The investment instrument also wants to invest in a Canadian equivalent.

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“Explosive” NFT trend

Another trend that the ARK Invest founder will not want to miss is the NFT business. The abbreviation stands for Non-Fungible Token. The trend, which is now also Twitter CEO Jack Dorsey and pop star Katy Perry enables the purchase of ownership rights to digital goods such as pieces of music, works of art or video clips. At a conference in the industrial network SALT, Wood now showed his enthusiasm for the concept, as “MarketWatch” reports. In a panel discussion with CNBC host Andrew Ross Sorkin, the entrepreneur explained that she particularly likes the provider Async Art, which allows users to buy pixels for digital artwork and use them to create new layers. “I smiled from ear to ear because I thought, ‘Man, this is going to be so explosive,’ Wood said of the moment she first heard about the NFT platform’s business concept.” That’s exactly how I felt when the Internet first come. ”

Ether could also benefit from the NFT trend

The ARK chief is not currently in possession of NFTs, but she still expects strong growth in this area, as “Benzinga” also writes. This would also benefit the second largest cryptocurrency, Ether, as most NFTs are located on Ethereum blockchains. With increased developer activity, the coin was soon able to step out of the shadow of its big brother. The star investor’s confidence in Ether has risen markedly, as she admitted to Sorkin. Wood is convinced that the developers of the architecture behind the cryptocurrency are driving the transition from the computationally intensive proof-of-work standard to the proof-of-stake concept. She would therefore currently invest 60 percent in Bitcoin and 40 percent in Ether, as she explained to Sorkin.


Image Sources: archy13 /, Cindy Ord / Getty Images for Bloomberg Businessweek

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