TL;DR
- Cathie Wood, CEO of ARK Invest, has expressed skepticism towards Trump Coin, comparing it to the ICO boom of 2017 due to its speculative nature.
- Wood prefers to invest in Bitcoin, Ethereum, and Solana, highlighting their utility and long-term growth potential.
- She maintains her forecast that Bitcoin could reach one million dollars by 2030, based on institutional adoption and its value as a reserve.
The renowned investment manager Cathie Wood has once again made headlines by showing her skepticism about the recent Trump Coin phenomenon. The CEO of ARK Invest, known for her bold bets and strategies in the crypto market, has made it clear that she does not intend to include it in her portfolio, preferring to focus on more established assets with greater long-term potential.
Wood has compared the rise of Trump Coin to the ICO (Initial Coin Offering) craze of 2017, pointing out that both phenomena, while generating great excitement and attracting new investors, lack a solid foundation and can be highly speculative. Despite acknowledging the role of these initiatives in popularizing cryptocurrencies, the manager has emphasized the importance of carefully evaluating projects before investing.
Instead of investing in memecoins like Trump Coin, Wood has reiterated her confidence in Bitcoin, Ethereum, and Solana. According to the expert, these three cryptocurrencies offer greater utility and more significant long-term growth potential. Additionally, she addressed the growing interest in decentralized finance (DeFi) and noted that Ethereum and Solana are at the forefront of the industry.
Wood Reaffirms Bitcoin Forecast
Beyond her long-term vision for the crypto market, Wood has reaffirmed her prediction that the price of Bitcoin could exceed one million dollars by 2030. This estimate is based on her analysis of Bitcoin’s institutional adoption and its potential as a store of value.
Under Whale Control
On the other hand, a recent study by Chainalysis has revealed that a small group of whales controls a large portion of the supply of Trump Coin and Melania Coin. This concentration of wealth in few hands has raised concerns among analysts, who warn about the risks of abrupt movements.
Cathie Wood has clearly stated her position on Trump Coin and reaffirmed her commitment to more established cryptocurrencies. While the manager recognizes the appeal of new projects, she prioritizes investment in digital assets with greater utility and higher long-term growth potentia
