Cathie Wood made headlines with her public appearances on CNBC, the Bitcoin Miami conference, and the Exchange ETF convention. Despite the beating taken by her family of ARK funds with all of them down between 50% and 80% from their all-time highs early in 2021, she hasn't lost any confidence and continues to make bold predictions about the future.
She drew scorn from her critics when she said that due to recent losses, she expects her funds to return 50% on an annual basis for the next few years. Of course, this would be a historical performance for any fund. Additionally, she continues to dismiss inflation as being a threat to the economy and hasn't backed down on this stance despite all the data of the past year.
At the Bitcoin Miami conference in a panel, she said that cryptocurrencies will disrupt banks due to decentralized finance applications which are growing in popularity. She also said that the U.S. government is getting more supportive of cryptocurrencies which is another positive, citing the recent remarks of U.S. Treasury Secretary Janet Yellen. Due to these catalysts, she sees bitcoin reaching $1 million by 2030.
Her remarks also touched upon what she sees as extreme differences in the value of innovative companies in public markets and private markets. This has been Wood's answer whenever asked about her fund's performance, and some investors are clearly buying the message as inflows have remained positive on a cumulative basis despite the steep decline.
In regards to her investments, she doesn't believe the fundamentals have changed at all. She also said that ARK's strategy of using risk-off periods to increase concentration adds to volatility but also is what leads to outperformance in the long-term.
At the conference, she was also asked about Elon Musk and Twitter
