'Wall of worry' led to digital wallets, blockchain tech ignored: Cathie Wood

ARK Invest CEO Cathie Wood believes that integer wallets and blockchain tech were among “game-changing innovations” that the equity markets mostly ignored successful 2022. 

In a Jan. 12 blog station connected the ARK Invest website, Wood suggested that the equity marketplace faced a “wall of worry” successful 2022, caused by fears of entrenched ostentation and higher involvement rates, and mostly ignored a fig of innovative technologies.

Wood highlighted that integer wallets are “replacing currency and recognition cards,” noting that they overtook currency arsenic the apical transaction method for offline commerce successful 2020.

Further arguing that integer wallets should not beryllium overlooked, she noted that they besides accounted for astir 50% of planetary online commerce successful 2021.

After the astir hard twelvemonth ever successful the equity marketplace for innovation-based strategies, we conscionable sent our clients this missive highlighting the breakthrough technologies that already are transforming the world. In our view, innovation solves problems! https://t.co/YdBiIZhY0D

— Cathie Wood (@CathieDWood) January 13, 2023

Wood suggested that the recent illness of crypto speech FTX hasn’t affected the larger ngo of what nationalist blockchains were intended for. She noted:

“Public Blockchains similar Bitcoin and Ethereum person not skipped a bushed successful processing transactions.”

Wood highlighted however the FTX collapse educated crypto investors to beryllium much diligent with wherever they store their crypto assets, saying that the stock of trading measurement connected decentralized exchanges, which let for trading without a cardinal intermediary, roseate 37%, jumping from 8.35% to 11.4%.

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Wood said she has ne'er successful her “30 years moving successful portfolio management” experienced specified unstable marketplace conditions, saying she has ne'er seen “markets this dislocated.”

The CEO suggested that the system is facing a challenging situation, with a alteration successful wealth supply, a diminution successful commodity prices and the “unwinding” of bloated inventories, which bespeak a slowdown successful inflation, and perchance adjacent deflation.

Related: Visa dreams up plans to fto you auto-pay bills from your crypto wallet

Wood noted successful the study that the fearfulness is precocious successful investors stating that investors are holding “high levels” of currency not seen since the 9/11 situation successful 2001.

Other “game-changing” innovations that Wood believed the equity marketplace “largely ignored” successful 2022 included Artificial Intelligence (AI), electrical vehicles, abstraction exploration and 3D printing.

She believes contempt uncertainty successful the market, disruptive innovation technologies which “solve problems,” person historically “gained stock during turbulent times.”