Cathie Wood (Ark Invest) Investing in These 3 Crypto Verticals
Welcome back, everybody. Just like we’re doing today, we break things down to make the whole crypto market easy to understand, just like we’re doing today.
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Let’s start with a rather revealing interview Cathie Woods of Arc Investment gave to CNBC Squawk Box. As you know, she’s a famous investor, highly respected, and she is very bullish on cryptocurrency as a whole. So they asked her if you’re so bullish, what are you putting your money on, and she laid out three verticals that she is hugely bullish on, not just for the next year or two, but for the next decade. So read to her three verticals she’s bullish on in crypto.
Cathie Wood is investing in Bitcoin
Number one: Bitcoin.
‘We really do believe, while we are in a massive slump right now, that the three revolutions around crypto that we set forth in our big ideas for 2022, and you can find those on our website, are underway and they will not be stopped by the money revolution, as a first global digital private rules-based monetary system’.
Cathie Wood is investing in Ethereum & DeFi
Number two: Ethereum&DeFi.
‘DeFi really came of age at 2021, while the reach for yield went way too far and the leverage in some protocols way too far, and algorithmic stable coins, as an economist myself, I didn’t understand them. It makes sense that they’re not going to exist, but DeFi itself has taken off and we’re impressed at how robust the ecosystem has been. A lot of people expected the Terra Luna meltdown to cause a systemic chain reaction. And we’re seeing a little bit of that. So far, the Ethereum, Blockchain, upon which DeFi is built, has held up very well’
Cathie Wood is investing in NFTs & Digital Property Rights
Number three: NFTs & Digital Property Rights.
‘And then the third revolution, which is still in its infancy, is probably where the token revolution was in 2017. And that’s NFTs, but we do believe that digital property rights, which is what NFTs represent, digital property rights are going to become incredibly important. I know, again from my economic background, that property rights can lift people and countries out of poverty. And we think that the opportunities, that the digital property rights, will allow creators and many others. We’re going to find all kinds of utility and we can’t even think of it right now. Just like we couldn’t understand quite what DeFi was going to be when tokens first came around? So we’re believers and we think the ecosystem if it consolidates, that’s not a bad thing’.
Music icon Snoop Dogg speaks on crypto crash & why he is still BULLISH Web3
Before we get to recent news involving Polkadot involving maker Dao Celsius and micro strategy, I don’t want to be clip heavy on this episode, but Snoop Dog and his crypto partner Champ Media were also interviewed on CNBC, and it’s amazing to see A-list celebrities now making cryptocurrency part of their identity. So the whole interview was rather lengthy, I’m just pulling two clips for you. I thought this was really cool.
First of all, Music icon Snoop Dogg speaks on the cryptocurrency crash and why he is still bullish on the future of the Web 3 Industry. Listen to this.
– We’re currently in a crypto sell-off. What do you make of the sell-off? How long do you think crypto went to trip?
– It won’t last forever because it’s crap. Crypto flying I mean, I think it was a beautiful industry that was created. I feel like every great industry has a downfall. There was always a depression in every industry. You can look at alcohol, tobacco, clothing, food, every industry that you can imagine, but they all made a certain incline when the industry got back right, and I just feel like this weeded out all of the people that weren’t supposed to be in that space and all of the people who were abusing the opportunities that were there, and now it’s going to bring on great business and moving forward, when the market gets back right, it’d only be great things that you know, pick and choose from.
Snoop Dogg says NFTs & Web3 will be “BIG” for the music industry!
In this episode, Snoop Dogg and Champ Media speak on something that they’re very familiar with: NFTs and Web 3. In how it relates to the music industry, in their opinion, it will be big.
-Do you think that NFTs still have a major place in the music industry? I mean, that seems like in the arts, but specifically in music. That’s really where it kind of took off the opportunity for people.
-I know it has a great opportunity to be big in music because sooner or later, the label’s going to have to come on in. And they’re going to have to come on home and they’re going to have to sit at the table and understand that their catalogues and things that they hold on to are better served on the blockchain than sitting in the catalogue collecting cobwebs
-And well, and death row seems to really have set kind of a blueprint for that. Have you had any of the other labels kind of reach out to you for guidance or all of them all any advice?
-And it’s not even just labels; it’s movie studios, its tech companies. It’s a beverage company. Everybody’s rushing to Web 3. And you know, they see how big Dog is in the space and how we’re pioneering amongst all the other natives. That’s been here for the last 5-7 years.
Polkadot Big News
It feels good to be in crypto. Let me get to some recent news. Let me update you on what’s going on with some of our favourite protocols.
First of all, this is a big one for Polkadot. The Polkadot unveils the new on-chain governance model first of all the key takeaways. The Polkadot is getting a new on-chain governance model.
The new Gov2 model aims to improve inclusivity and decentralization while increasing the number of decisions Polkadot governance is able to make.
Gov2 is set to launch on Kusama’s canary network imminently following a final professional audit of its code.
For further details to understand what’s going on, the main goal of the new governance model is to increase the number of collective decisions the Polkadot governance system is able to make. Whereas the current system uses a public proposal queue, the new governance model will allow anybody to start a referendum at any time as long as they wish. This means that, under the new Gov2 structure, there can be multiple referendums covering a wide range of issues happening simultaneously, and there is no limit to the number of referenda that are open to voting at any time. While the new system grants more freedom and more flexibility, new measures have also been introduced to safeguard the protocol from attack.
So Polkadot is getting bigger and better, more decentralized and more secure. What do you think about this?
MakerDAO May Invest in Bonds & diversify into traditional finance
In other news, one of the blue chips in the Ethereum, DeFi ecosystem maker, Dao, is, of course, they have the over-collateralized decentralized stable coin die. MakerDao may invest in bonds and diversify into the traditional financial world.
What you need to know is that this MakerDao, is looking to invest 500 million DAI into U.S. treasury bills and possibly corporate bonds as well. The move, which has been discussed for months within the governance forum, is an attempt to generate yield with some of its holdings while diversifying. The community is currently voting on the preferred investment strategy, though it still has the option to reject the proposal altogether.
It’s great to see so much in decentralized finance hold up, especially as we’re seeing so much in traditional centralized finance.
Celsius Denies CEO Mashinksky Tried to Leave U.S.
Crumble. Celsius News. Celsius Denies. That Ceo Mashinsky Tried to Leave the United States. Of course, withdrawals are still paused on Celsius. Of course, users still have their money in Celsius, which they want back. I guess some people are saying that Mashinsky was trying to leave the U.S. Celsius denies this. Celsius has denied reports that its CEO, Alex Mashinsky, attempted to leave the United States this week. On Sunday, reports said that Mashinsky had attempted to leave the U.S. via New Jersey airport began to circulate. Celsius is facing a liquidity crisis: It closed withdrawals over two weeks ago and is being investigated by regulators.
Michael Saylor Buys More Bitcoin
Finally, BBitcoin Jesus, himself knew, and his company’s MicroStrategy continues their Bitcoin Accumulation Amid The market slump. MicroStrategy has added another 480 Bitcoin to its holdings despite the steep market downtrend.
[This article is a transcription of a video made by Altcoin Daily]
Original video: https://youtu.be/hG94fAFzB70 ]