{"id":41098,"date":"2023-01-13T10:36:37","date_gmt":"2023-01-13T10:36:37","guid":{"rendered":"http:\/\/egrowonline.com\/?p=41098"},"modified":"2023-01-13T10:36:37","modified_gmt":"2023-01-13T10:36:37","slug":"wall-of-worry-led-to-digital-wallets-blockchain-tech-ignored-cathie-wood","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=41098","title":{"rendered":"\u2018Wall of worry\u2019 led to digital wallets, blockchain tech ignored: Cathie Wood"},"content":{"rendered":"


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ARK Invest CEO Cathie Wood believes that digital wallets and blockchain tech were among the \u201cgame-changing innovations\u201d that the equity markets largely ignored in 2022.\u00a0<\/p>\n

In a Jan. 12 blog post on the ARK Invest website, Wood suggested that the equity market faced a \u201cwall of worry\u201d in 2022, caused by fears of entrenched inflation and higher interest rates and largely ignored some innovative technologies.<\/p>\n

Wood highlighted that digital wallets are \u201creplacing cash and credit cards,\u201d noting that they overtook cash as the top transaction method for offline commerce in 2020.<\/p>\n

Further arguing that digital wallets should not be overlooked, Wood noted that they also accounted for approximately 50% of global online commerce in 2021.<\/p>\n

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After the most difficult year ever in the equity market for innovation-based strategies, we just sent our clients this letter highlighting the breakthrough technologies that already are transforming the world. In our view, innovation solves problems! https:\/\/t.co\/YdBiIZhY0D<\/a><\/p>\n

\u2014 Cathie Wood (@CathieDWood) January 13, 2023<\/a><\/p><\/blockquote>\n

Wood suggested that the recent\u00a0collapse of crypto exchange FTX<\/a> hasn\u2019t affected the larger mission of what public blockchains were intended for. She noted:<\/p>\n

\u201cPublic Blockchains like Bitcoin and Ethereum have not skipped a beat in processing transactions.\u201d<\/p>\n

Wood highlighted\u00a0how the FTX collapse educated crypto investors to be more diligent<\/a> with where they store their crypto assets, saying that the share of trading volume on decentralized exchanges, which allow for trading without a central intermediary, rose 37%, jumping from 8.35% to 11.4%.<\/p>\n

Cast your vote now!<\/em><\/a><\/figcaption><\/figure>\n

Wood said she has never, in her \u201c30 years working in portfolio management,\u201d experienced such unstable market conditions, saying she has never seen \u201cmarkets this dislocated.\u201d<\/p>\n

The CEO suggested that the economy is facing a challenging situation, with a decrease in money supply, a decline in commodity prices and the \u201cunwinding\u201d of bloated inventories, which indicate a slowdown in inflation and possibly even deflation.<\/p>\n

Related:\u00a0<\/em>Visa dreams up plans to let you auto-pay bills from your crypto wallet<\/em><\/a><\/strong><\/p>\n

Wood noted in the report that the fear is high in investors stating that investors are holding \u201chigh levels\u201d of cash not seen since the 9\/11 crisis in 2001.<\/p>\n

Other \u201cgame-changing\u201d innovations that Wood believed the equity market \u201clargely ignored\u201d in 2022 included artificial intelligence, electric vehicles, space exploration and 3D printing.<\/p>\n

She believes that despite the uncertainty in the market, disruptive innovation technologies that \u201csolve problems\u201d have historically \u201cgained share during turbulent times.\u201d<\/p>\n<\/div>\n


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ARK Invest CEO Cathie Wood believes that digital wallets and blockchain tech were among the \u201cgame-changing innovations\u201d that the equity markets largely ignored in 2022.\u00a0 In a Jan. 12 blog post on the ARK Invest website, Wood suggested that the equity market faced a \u201cwall of worry\u201d in 2022, caused by fears of entrenched inflation […]<\/p>\n","protected":false},"author":1,"featured_media":41099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[73,5527,271,1892,474,904,833,5528,4433],"class_list":["post-41098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-blockchain","tag-cathie","tag-digital","tag-led","tag-tech","tag-wall","tag-wallets","tag-wood","tag-worry"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/9e1332f6-d709-4e5b-b74a-45cd05ad1ad8.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41098"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41098\/revisions"}],"predecessor-version":[{"id":41100,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41098\/revisions\/41100"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/41099"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41098"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}