PLTR - Cathie Wood's team views the crypto market as a future multi-trillion-dollar space
Cathie Wood and her flagship ARK Innovation (ARKK) ETF bounced back yesterday as in early trading, the fund dipped below $100, creating a new near six-month low. ARKK finished +2.06% on Tuesday and is -0.49% in pre-market trading on Wednesday.In the midst of the rise of all the crypto assets, ARK's analyst Yassine Elmandjra said in a recent interview: "Over a longer-term time horizon we definitely think this is the beginning phase of what's going to be the birth of an entirely new asset class that we think will be in the trillions of dollars," per Bloomberg.ARK believes that the crypto sphere has a lot of room to grow and can one day potentially rival the likes of the safe-haven gold play. Specifically regarding bitcoin (BTC-USD) and its growing market share and popularity.With regards to ethereum (ETH-USD), Elmandjra referred to the crypto asset "as a multi-trillion-dollar opportunity." Ethereum currently has a market capitalization of roughly
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Cathie Wood’s team views the crypto market as a future multi-trillion-dollar space