In a recent interview with Bloomberg, Ark Invest Chief Executive Officer Cathie Wood said that Bitcoin will survive the recent crackdown in China and that it is impossible to shut down Bitcoin. We have seen this movie before: in 2013, the same exact thing happened when China’s largest exchange at the time, BTC China, was shut down. However, Bitcoin survived, and eventually surpassed the price it was trading at before the Chinese government shut down BTC China.
Ark Invest CEO and co-founder Catherine Wood doesn’t believe that governments will ever be able to crack down on Bitcoin, no matter how hard they try. Wood believes it’s “impossible” to shut down Bitcoin.
Ark Invest CEO and co-founder Cathie Wood made a bold prediction about the future of Bitcoin: Even though it has been declared dead more times than a cat, it will never actually die. “Bitcoin is not going away. We are going to look back on this and say, ‘That’s the day that Bitcoin became mainstream,’” she said during an interview with Bloomberg. According to Wood, governments will find it virtually impossible to shut down the cryptocurrency, even if they try.. Read more about ark invest ethereum and let us know what you think.Katie Wood, CEO of Ark Investment Management (Ark Invest), says regulators can’t shut down Bitcoin. She added that they are becoming more supportive of cryptocurrencies over time. Wood isn’t the only one who thinks governments can’t shut down Bitcoin.
Regulators can’t shut down Bitcoin, says CEO Ark
Katie Wood, CEO of Ark Invest, shared her views on bitcoin, its regulation and environmental impact at the Consensus 2021 conference on Thursday. The CEO said bitcoin is on its way and it will be impossible to stop it. She added that over time, regulators are becoming slightly more supportive of cryptocurrencies for fear of missing out on innovation in this area (FOMO). Wood also addressed Bitcoin’s impact on the environment, saying that half of the solution is to understand the problem. She described it: This study of what miners, particularly in North America, are prepared to do in terms of electricity consumption through renewable energy sources will make the issue clearer and help to ensure that renewable energy sources are introduced more quickly than would otherwise be the case. Earlier this week, Tesla CEO Elon Musk announced that he had met with North American bitcoin miners at a private meeting hosted by Michael Saylor, CEO of Microstrategy. Miners have agreed to establish a bitcoin mining council to promote the use of renewable energy in bitcoin mining. Wood isn’t the only one who thinks governments can’t shut down Bitcoin. SEC Commissioner Hester Pierce said banning bitcoin is like shutting down the Internet. I don’t understand how you can ban this ….. I think it would be foolish for the government to try that, she explained: I think it’s very difficult to ban something that is essentially a peer-to-peer technology. MP Patrick McHenry declared earlier in 2019 that bitcoin was unstoppable, adding: We should not try to stifle this innovation. Governments can’t stop it, and those who have tried have already failed. Last week, the CEO of Ark Invest reiterated his bitcoin price prediction by saying that his company still sees the price of BTC at $500,000. She also pointed out that all of our indicators indicate that this is now a surrender. Do you think regulators can shut down Bitcoin? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Ark Invest, a New-York based investment firm with a focus on disruptive technology, recently hosted its second annual crypto summit. The summit is intended to be an “un-conference” where blockchain professionals can network and discuss the future of blockchain (of course there was also plenty of drinking and networking) and this year featured talks from crypto-celebrities like Tim Draper, Charlie Lee, and Erik Voorhees. In a recent interview, Ark Invest CEO Cathie Wood talked about her takeaways from the summit.. Read more about ark bitcoin prediction and let us know what you think.
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