Just-In: Ark Invest CEO Cathie wood’s Next Strategy on Bitcoin, Tesla And AI
Market leaders like Elon Musk, CEO of Tesla, and Cathie Wood, CEO Ark Invest, criticized the U.S. Federal Reserve’s incessant rate hikes that are threatening to destabilize market conditions and cause recession. Bullish sentiment has been sparked by a slowdown in U.S. Fed rate hikes this year.
Cathie Wood said Saturday that growth stocks and innovation-based strategy will make up the lost gains as the U.S. Federal Reserve’s “brutal interest rates increase” is nearing an end.
“ARKInvest offers a five-year investment time horizon. The worst interest rate rise in history is coming to an end. Growth stocks and innovation-based strategies should make up the difference.
Ark Invest is buying Tesla (TSLA), and Coinbase (COIN), shares at a low price as part of its active equity strategy. Ark Invest bought 14,636 Coinbase COIN stocks on February 14 as the stock price dropped below $58. Cathie Wood predicts that Tesla stock will reach $1500 within five years. This is a 675% rise.
Furthermore, she noted that many Wall Street investors including Charlie Munger lack an understanding of lower costs associated with technologically-enabled innovation. Charlie Munger, who had previously stated that he prefers investing with Warren Buffett-backed BYD to Tesla.
Ark Invest invests most of its capital in technology stocks. Ark Invest believes Artificial Intelligence is the future of knowledge workers. Cathie Wood tweeted:
“Think of AI as the assembly line to support knowledge workers. The Industrial Revolution was accelerated by the assembly line 100 years ago. AI is today a key driver of the digital revolution. It’s not just for businesses, but also for consumers.
Ark Invest believes that AI will increase knowledge workers’ productivity by more then 4-fold by 2030. AI adoption at 100% could lead to a global increase in labor productivity of almost $200 trillion. This is far more than the $32 trillion in total knowledge worker salary.
Also read: Top 5 AI Crypto Tokens & Projects That Will Skyrocket in 2023
Cathie Wood reiterated her bullish position on Bitcoin and predicted that the price of Bitcoin will reach $1 million by 2030. She believes that Bitcoin can help countries in trouble with inflation, much like an insurance policy.
Cathie Wood’s prediction about AI and the rebound in Tesla shares and Coinbase shares suggests that Bitcoin price could reach $1 million by 2030. BTC price at $100K is more likely to occur by 2023-end, or early 2024.
Also read: Bitcoin Price Bullish to Hit $30K, Predicts on-Chain Data and Crypto Analyst
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