Ark Invest CEO Says not possible to stop working Bitcoin — Regulators can Become additional Friendly Over Time

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May 29, 2021 at 05:46 Update Date :May 29, 2021 at 05:46 UTC

The CEO of Ark Investment Management (Ark Invest), Cathie Wood, says regulators cannot stop working bitcoin. She says that they’ll become additional friendly towards cryptocurrencies over time. Wood isn’t the only one WHO thinks that governments cannot stop bitcoin.

Regulators Cannot stop working Bitcoin, Says Ark’s CEO
Ark Invest CEO Cathie Wood shared her read on bitcoin, its regulation, and environmental impact at the agreement 2021 conference.

The CEO affirmed that bitcoin is “already on its way and it’ll be not possible to shut it down.” She said that regulators “will be a touch additional friendly over time” towards cryptocurrencies thanks to a worry of missing out (FOMO) on the innovation returning from the crypto sector.

Wood jointly commented on bitcoin’s environmental impact, stating that “Half of the answer is knowing the matter.” She described: “This auditing of what miners, definitely in North America, square measure willing to try to to around what proportion of their electricity usage is generated by renewables goes to bring that topic into stark relief, and can encourage associate degree acceleration within the adoption of renewables on the far side that otherwise would have taken the place.”

Early in the week, Tesla CEO Elon Musk declared that he met with North yankee bitcoin miners in a very close-door meeting hosted by Microstrategy CEO Michael Saylor. The miners have an agreement to make a Bitcoin Mining Council to push renewable energy usage in bitcoin mining.
Wood isn’t the sole one WHO believes that governments cannot stop working bitcoin. SEC Commissioner Hester Peirce aforesaid forbidding bitcoin is like motion down the web. “I don’t see how you’ll ban it … I feel that it might be a foolish factor for the government to try to do that,” she opined, noting, “I assume it’s terribly tough to ban one thing that’s basically a peer-to-peer technology.”

Congressman Patrick McHenry said back in 2019 that bitcoin was “unstoppable,” adding: “We mustn’t arrange to deter this innovation, and governments cannot stop this innovation and people that have tried have already been unsuccessful.”

Last week, the CEO of Ark Invest reaffirmed her bitcoin value prediction, stating that her firm still sees the worth of BTC reaching $500K. She more emphasised that that “All of our indicators square measure voice communication this is often capitulation immediately.”

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