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Ethereum Disrupting Banks
In this video, the guests discussed the evolution of Ethereum and its coexistence with Bitcoin. They also narrated Ark Invest’s research into cryptos. Here is the summary of the interview:
Cathie Wood was asked to share her thoughts on Ethereum and updates in the decentralized finance landscape and how it adds to the sound money value proposition that Bitcoin brings. She has this to say:
“We’ve been evolving our point of view on Ethereum. Bitcoin was what we needed to understand first, but we were keeping out an eye on all of the assets. We believed there would be a few currencies in the world much like there are today. We thought Bitcoin would be the reserve currency, and we were looking for the other currencies and Ether was showing up as a very strong second.”
Cathie added that NFTs, and decentralized finance (DeFi) are satisfying unmet needs such as yields. “We see that in the fixed income markets with the ridiculous rallies that have taken place, taking junk bond yields down to just a couple of 100 basis points above treasuries. So, the hunger for yields is being satisfied by a much more efficient financial ecosystem.
Cathie noted that many more people are open-minded to cryptos. She narrated that when Chris started at Ark, she used to say, “Follow developers.” And using that metric Ethereum is off the charts whereas Bitcoin is steady. But now, Etherum, DeFi, and NFTs have hit a responsive chord, so bringing the creator community into this ecosystem will help it to go viral than people would have expected.
Other contributors added that:
When Ark was beginning investigations into cryptos, Ethereum wasn’t in existence then. Ark is full of varied viewpoints, allowing everyone to express their viewpoints. The narrative for Bitcoin is pretty much set in stone. And it’s very easy to make the case for Bitcoin as an investment. But by extension of value, the different opportunities with Ethereum make it a bit different because investors have yet to come to a consensus on it.
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Credit: Bankless (full unedited video)
ORIGINALLY POSTED: SEPT 13, 2021
Banks are SCARED | Cathie Wood, Chris Burniske, Yassine Elmandjra
Welcome to “Savvy Finance 🤝
This channel is all about being savvy with your finance 💰.
We create and share videos about investments and how best you can put your money to use, in order to bring in more money. We love cryptocurrencies and the stock market and so, we share a lot of crypto and stock market videos,, including bitcoin, ethereum, Cardano ADA, and other altcoins. 🗠
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