원문 보기
we believe that if you if you were to look at Global money supply and take out the big four the so that's us UK uh Japan and Europe take those four out uh the rest of the global monetary Supply we we assume that 3% uh will effectively that that Bitcoin will will uh take over 3% of it I think that's a very conservative assumption but that gives you a sense of and I know we get to price targets we don't sound conservative but 3% is conservative I think it could be much higher I think it' be 20% this is a big idea and it's Unstoppable there's no throat to choke I think our confidence went up when we saw what happened when Facebook at the time it was Facebook launched DM right and you remember the Ruckus that caused especially in Europe well there was a throat to choke it was it was Facebook and never happened there's no throat to choke here so it's Unstoppable Kathy Wood the CEO of Arc invest believes that Bitcoin could eventually take over a significant portion of the global money supply excluding the major economies of the US UK Japan and Europe specifically she estimates that Bitcoin could capture 3% of the global money supply outside these big four economies which she considers a conservative estimate she even suggests that this percentage could be as high as 20% wood argues that Bitcoin is an Unstoppable force in the financial world because no Central entity or throat to choke can be targeted or regulated out of existence this is in contrast to Facebook now meta's attempt to launch its cryptocurrency DM or formerly Libra which faced significant regulatory push back and ultimately did not succeed she points out that when traditional corporations like Facebook attempt to enter the cryptocurrency space they face substantial regulatory hurdles in contrast Bitcoin being decentralized and not controlled by any single entity cannot be easily shut down or controlled by governments we will now bring you more clips from the interview as Kathy Wood explains her insight into Bitcoin please take some time to like this video And subscribe to the channel to show your support thanks and enjoy in 2015 uh we wrote our first white paper on bit coin with art laugher so art laugher is a monetary scholar and uh art read the paper got through it and said whoa this is what I have been waiting for since the US closed the gold window in 1971 this is private money this is going to be big and I said okay how how big yes a big idea how big art he said how big is the US monetary base back then it was was 4 and2 trillion now it's 7 and A2 trillion so uh it's a big idea a lot of people found Ark because of Bitcoin in our early days and so they were in the retail space individuals who were just buying for their own accounts um what has changed is we are now talking to the major platforms so uh we call them warehouses so Morgan Stanley UBS uh Lynch Wells Fargo uh and they are in deep due diligence like okay what is this we have to have a point of view now they actually have an index against which they're going to be judged and that's an ETF right now Bitcoin is part of how they're going to be graded and uh while no major platform has yet put any of us any of the spot Bitcoin ET FS on its platform yet uh we think that's coming we can tell from the kinds of questions they're asking they're asking uh deep questions uh not only about Bitcoin itself but about infrastructure Ops you know risks and uh so uh the heat is on because this is a new asset class Bitcoin is a new asset class it's a monetary system to be sure but it also represents a new asset at class and um what that means in our world uh is that as a fiduciary someone looking after portfolios for people a fiduciary has to consider a new asset class because of the low correlation uh with other Assets in terms of returns and risk uh and so if you add Bitcoin to uh an existing portfolio if that is right and this is this is low correlation asset what that means is over time rep returns per unit of risk will go up uh so if one platform has Bitcoin and offers that opportunity of diversification and higher risk adjusted returns and another doesn't then uh they're going to have a problem if this one's right ETFs are a wonderful structure they can scale you've got um an ecosystem this is not just the 10 companies or how many how many are still um uh in operation I don't know if any I don't think any has outright failed yet but um uh the the ecosyst the structure is extremely flexible because the authorized participants the market makers are not inside one firm uh you know we have I I we have dozens of authorized participants and those are the big brokerage houses so this is another reason they're being not forced into this they're being lured into this because the uh ecosystem authorized participants market makers is a very lucrative ecosystem and these wirehouses host many of them so uh I think you know we could scale to hundreds of billions of dollars art afer and I were just in El Salvador together so uh and I've watched Arts Evolution he's 83 years old he has served I think almost every pres president but after his experience with President Nixon he has never been paid by any of these presidents and and I'm saying on both sides of the aisle uh um and he is more excited about Bitcoin and I've known him since 1976 he was um my professor at University of Southern California uh USC uh I have not seen him more excited about anything he's 83 years old right now more excited about anything since Proposition 13 in California which was property tax reform but he's more excited about this because it has ramifications for the world Kathy Wood elaborates on several key points about Bitcoin significance and future she recounts a 2015 conversation with monetary scholar art laugher who viewed Bitcoin as a groundbreaking form of private money comparable to the US abandoning the gold standard would highlights the shift from retail to institutional interest with major Financial firms like Morgan Stanley and UBS conducting deep due diligence on bitcoin this indicates bitcoin's emergence as a new asset class valued for its low correlation with traditional assets enhancing portfolio diversification and improving risk adjusted returns would also praises the scalability and flexibility of Bitcoin ETFs supported by a robust ecosystem of authorized participants and market makers she emphasizes the potential for financial institutions to adopt Bitcoin ETFs driven by competitive pressures now here are more clips of Kathy Wood well and I can speak to this as a portfolio man manager in the equity space as well um I think he thinks and I could not agree more that the fact that the fed the various fed members can get up every day and uh whip around all financial markets with a few words or the nuances around a few words is ridiculous ridiculous and he right right right it's just ridiculous and and the volatility that this is creating in the markets that they are creating and the boom busts that the FED is creating they blame everyone else but it stems for from errant monetary policy so this idea of getting back to private money is very exciting now I had to have a I needed to be educated on this a bit because I I've studied economic history and if you look at pre- 1913 when uh the Fed was first first came in into existence prior to that what you see are booms and busts regular booms and bust you see you see on average price stability but booms and busts in the economy and so in speaking with art about that he said uh well that's right the but the adust adjustments that that happened to various changes in in the economy or in Technologies or whatever they were they were they were almost immediate what we have seen with the FED is it has enabled bad behavior think 0% interest rates for as long as we have you know think about all of the real estate speculation that took place so now we have a mess in office space and I think the mess is brewing even more importantly in the multif family space uh and we don't know what other accidents are going to happen out there because of so many years at 0% and then the leverage taking and the reach for yield so I think honestly the fed's time has has come to go given her analysis how will Bitcoin evolve in the next decade will institutional adoption accelerate its integration into mainstream portfolios share your thoughts in the comments section if you found today's video informative and would like more insights and updates on cryptocurrency and Global Finance please consider liking the video subscribing to our Channel and enabling post notifications stay tuned for our next episode where we'll uncover more about the fascinating developments in the crypto space until then keep questioning exploring and most importantly investing wisely thank you for watching and we look forward to seeing you in the next video
Comments 0