Cathie Wood, founder and CEO of Ark Investment Management, expressed concerns about the future of memecoins, warning that most of them could become worthless.
The Memecoin Market: Outlook
Wood pointed out that blockchain technology and artificial intelligence are driving the creation of a vast number of memecoins, many of which may be undervalued in the future.
Memecoin Regulation and Risks
Memecoins, often driven by internet jokes or pop culture, have gained popularity, but the US Securities and Exchange Commission does not classify them as securities, leaving them unregulated.
Prospects for Bitcoin and Leading Cryptocurrencies
Wood remains positive about the future of bitcoin and other leading cryptocurrencies, claiming that their use cases are multiplying, and they will become important in the future. She also predicts that bitcoin could exceed $1 million by 2030.
Cathie Wood emphasizes the importance of a cautious approach to investing in memecoins, noting that few of them may retain value, while bitcoin and other major cryptocurrencies are expected to play a significant role in the future.
