THELOGICALINDIAN - The CEO of Ark Investment Management Ark Invest Cathie Wood says regulators cannot shut bottomward bitcoin She added that they will become added affable appear cryptocurrencies over time Wood is not the alone one who thinks that governments cannot shut bottomward bitcoin
Regulators Cannot Shut Down Bitcoin, Says Ark’s CEO
Ark Invest CEO Cathie Wood aggregate her appearance on bitcoin, its regulation, and ecology appulse at the Consensus 2024 appointment Thursday.
The CEO said that bitcoin is “already on its way and it’ll be absurd to shut it down.” She added that regulators “will be a little added affable over time” appear cryptocurrencies due to a abhorrence of missing out (FOMO) on the addition advancing from the crypto sector.
Wood additionally commented on bitcoin’s ecology impact, advertence that “Half of the band-aid is compassionate the problem.” She described: “This auditing of what miners, absolutely in North America, are accommodating to do about how abundant of their electricity acceptance is generated by renewables is activity to accompany that affair into abrupt relief, and will animate an dispatch in the acceptance of renewables above which contrarily would accept taken the place.”
Early this week, Tesla CEO Elon Musk appear that he met with North American bitcoin miners in a close-door meeting hosted by Microstrategy CEO Michael Saylor. The miners accept agreed to anatomy a Bitcoin Mining Council to advance renewable activity acceptance in bitcoin mining.
Wood is not the alone one who believes that governments cannot shut bottomward bitcoin. SEC Commissioner Hester Peirce said banning bitcoin is like shutting bottomward the internet. “I don’t see how you could ban it … I anticipate that it would be a foolish affair for the government to try to do that,” she opined, noting, “I anticipate it’s actual difficult to ban article that’s about a peer-to-peer technology.”
Congressman Patrick McHenry said aback in 2019 that bitcoin was “unstoppable,” adding: “We should not attack to avert this innovation, and governments cannot stop this addition and those that accept approved accept already failed.”
Last week, the CEO of Ark Invest reaffirmed her bitcoin amount prediction, advertence that her close still sees the amount of BTC reaching $500K. She added emphasized that that “All of our indicators are adage this is accedence appropriate now.”
Do you anticipate regulators can shut bottomward bitcoin? Let us apperceive in the comments area below.
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