CATHIE WOOD: “Bitcoin llegará a los 700.000 dólares en 5 años, e incluso podría irse a 1’5 millones"

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트럼프 관세는 협상 수단으로 보며 무역전쟁은 아니라고 봄. 금리 인상과 대형주 집중이 해소되며 혁신주 강세 전환 기대. AI가 핵심 촉매이고 로보택시·유전자치료 등 혁신 분야 강조. 비트코인 장기 전망은 기본 70만달러, 강세 150만달러(5년 기준)이며 금 대체 자산으로 봄. 딥시크로 AI 추론 비용이 급락하며 AI 확산이 가속된다고 주장. 포트폴리오 분산을 권고함.

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01. good afternoon K good good afternoon Jose very happy to meet you very happy for us what do you think are you worried about the tari War uh about the Tariff War I I believe uh listening and looking at uh What uh president Trump is doing he is negotiating and using tariffs to negotiate we thought this was the case uh but it became very clear uh especially with Canada uh as they were starting to retaliate uh president Trump's team said wait a minute this is not a trade War we're trying to uh get some reforms on immigration and drugs uh so I think uh tariffs are a form of negotiation importantly for president Trump what impact could it have on global markets and in the arc investment strategy yes uh well we're we're very excited at how our portfolios have started the year actually since the US election uh they've been doing very well uh so we're very happy with our partners Nico Asset Management to have the disruptive innovation usage fund uh in in the the market uh so the reason that Innovation is starting to take off is three headwinds are turning into Tailwinds uh the first one was interest rates the shocking interest rate increases those are over uh the second is the convergence uh into just a very few stocks uh so-called mag six magnificent six stocks uh we think that is over too uh and we think that the bull market is broadening out now that uh we have an Administration very favorably disposed to encouraging businesses to innovate and taking down the regulations that have really hurt and then the third headwind that uh we think is turning into a Tailwind is valuation the last few years uh valuations have been hit hard especially in the smaller and midcap space uh and we think that they have come into very reasonable uh levels so uh I think the combination of uh the policies of this new government uh and those Tailwind those headwinds turning into Tailwinds are are going to prove beneficial to our portfolios what are the main investment areas that AR invest is currently focusing In This Moment yes well our sole focus in terms of investing is disruptive innovation that is technologically enabled and that's going to really transform the way the world works so we're focused on importantly artificial intelligence of course that is the biggest Catalyst in history when it comes to uh the speed of change and impacting every other uh Innovation out there the other Innovation platforms are robotics energy storage blockchain technology and what we call multi-owner sequencing in the life science space and we think that uh artificial intelligence is going to increase productivity significantly across the board anyone who harnesses the tools will enjoy productivity increases so that's one of the biggest applications and that applies to any company uh and any personal life too uh but the two biggest ramifications of AI besides productivity um are autonomous Mobility so Robo taxis uh we think that will scale to a 10 trillion doll opportunity uh which is huge from essentially nothing now uh and of course we think Tesla in the US is in the poll position there weo alphabets weo is also participating um the other and maybe more profound ramif ification of AI is health care we think that the convergence of uh sequencing Technologies with artificial intelligence and crisper Gene editing and other Gene therapies we're going to see curing diseases and in fact we're already seeing cures to two diseases sickle cell disease and beta phemia those are generating revenues for a company called crisper Therapeutics uh uh which uh started in Europe actually uh so we're pretty excited about those two opportunities in particular and then the last one uh in terms of innovation is um uh Bitcoin and digital assets broadly and we think there's a convergence there between artificial intelligence and Bitcoin and other crypto assets as we as we see agentic AI take off meaning instructing AI to accomplish a task from beginning to end might mean micro payments along the way which could be enabled by crypto assets if we need to try a name in in that beginning of the year maybe it's deep seek what did mean about technology and this rise of deeps could mean an overvaluation of uh magnificant 7 uh we we think actually deep seek is um maybe a little bit ahead of uh other large language models in terms of driving costs down um according to our research AI inference costs and that is mostly what deep seek is focused on AI inference costs are dropping anywhere from 85 to 95% per year so deep seek is capitalizing on a very wellestablished learning curve which is expressed through cost declines uh now the question is was deep seek able to develop this large language model for only $6 million on a high-end workstation uh we think there was a lot of pre-training that went on before that and uh we do think AI will start moving uh from the cloud to the edge they'll work together cloud and Edge and maybe deep seek has pushed AI closer to the edge sooner but with think uh that it is also speeding up AI altogether not slowing it down so uh the movement is still very big and very fast moving do you think that invest investor in this in this beginning of the year need to change anything in their portfolios it's it's so big the change of the beginning in the beginning of the year to change the portfolio well I do think that those who have overweighted the mag 6 the Magnificent 6 um probably should think about uh diversifying into other uh names that are in The Innovation space as well uh because the history of concentrated markets is that they either end up in a bare Market or a broadening out bull market and we believe this concentrated Market which was more concentrated than any other Market in history we think there's a lot of room for it to broaden out because AI is collapsing the cost of innovation and giving more and more companies access to these powerful tools so we think there are going to be a lot of entrepreneurs out there very creative uh creating new products and servic and so we would uh we would suggest and our portfolios certainly uh are a play on the broadening out of the bull market only one question more your outlook about Bitcoin and cryptocurrencies In This Moment yes uh well we uh we're very excited about crypto assets generally we think that there are three revolutions under way uh Bitcoin represents the money Revolution um uh ether and salana represent the defi or decentralized financial services Revolution and then the third Revolution which is all about digital property rights for the first time ever immutable meaning permanent property rights uh online uh that is going to create whole new worlds so we're known for our Bitcoin forecasts our base case as we uh as we put into Big Ideas which we just published is around the 700,000 range in five years uh our bull case is $1.5 million for Bitcoin in five years mostly because we do believe it will sub substitute more and more for gold and uh because institutional investors are looking at Bitcoin as the first in a new asset class and they're starting with Bitcoin ether salana and uh of course Bitcoin as well is the first digital rules-based monetary system in history so it's a very big idea thank you very much KY boot good day good business thank you very much for com this time with us thank you very much Jose and good day to you too good day