Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $ 50 billion in assets, said she is monitoring the explosive growth of non-consumable or NFT tokens, although she has none.
At the SALT conference held Monday by alternative asset manager SkyBridge, Wood spoke in favor of Async Art, an NFT platform that allows users to buy pixels for digital artwork and create layers on it.
“I was walking when I heard the CEO tell his story, and my smile went as a couple, because I said, ‘Man, this is going to be so explosive,'” Wood said in a panel with CNBC’s anchor. Andrew Ross Sorkin “That’s how I felt when the Internet first appeared.” However, Wood said he currently has no NFT.
Meanwhile, Wood said he expects the Bitcoin BTCUSD,
the price will be over $ 500,000 over the next five years. “If we’re right and companies continue to diversify their cash into something like crypto, and institutional investors start allocating 5% of their funds to cryptography … We believe that [bitcoin’s] the price will be the tenth of where it is today, “he said. Bitcoin recently traded at $ 44,993, down 1.2% in the last 24 hours.
Wood also said he trusted the ETCUSD,
“It has increased dramatically,” as the blockchain begins its transition from the job test to the participation test. Ether was trading at $ 3,294, down 2.8% in the last 24 hours.
When Sorkin asked him what his options were, if he only invested in a digital currency, Wood said he would allocate 60% to bitcoin and 40% to ether.
A SEC filing on Friday revealed that Ark Investment allows one of its ARKW funds,
invest in Canadian Bitcoin ETFs.
Ark Investment has helped create a traded fund in exchange for bitcoins with 21Shares, while the SEC has not yet approved any bitcoins ETFs.