Ark Invest CEO Cathie Wood is worried about the recession he believes could stem from President Donald Trump’s tariff policies.
Wood shared his concerns while effectively speaking at the Digital Assets Summit in New York on March 18th.
Wood argued that Treasury Secretary Scott Becent is not worried about the recession, but the industry is worried about it. “I think the speed of money is slowing dramatically,” she said.
Money speed refers to the speed of capital movement in a market. Slow speed means that capital is moving at a slow pace, a sign of a recession.
Such a scenario gives the President and the Fed many “freedom to do what they want in terms of tax cuts and monetary policy.”
Despite concerns about the recession, ARK Invest trusted her company’s crypto investments. She added that cryptocurrency positions are important to the company’s investment approach.
Wood asserted that Crypto will have a long-term “investible arc” and “long-term innovation will win as we go through these challenges and hardships.”
In January 2024, the Securities and Exchange Commission (SEC) approved a joint application for 21 shares with the Ark and launched the Bitcoin ETF. According to SOSOValue, the ETF had a net worth of $4 billion as of March 17th.
Ark Invest also holds $518.6 million in 64,358 Coinbase Global (NASDAQ:COIN) shares and $339 million in Robinhood (NASDAQ:HOOD) shares.
According to Arkham, the investment company holds $3.97 billion in Bitcoin.
The wood is very bullish with Bitcoin. On February 11, she predicted it could surge to $1.5 million. In an interview on March 18th, she doubled her claim that Kingcoin could reach its target by 2030.