ARK Invest CEO Cathie Wood believes that artificial intelligence (AI) and Bitcoin will converge completely and change the world for the better.
- On Saturday, Wood tweeted, “The convergence between Bitcoin and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating.”
- She also revealed that she would go further into detail on her views in an upcoming episode of the Bitcoin Brainstorm podcast on Thursday, September 7.
- Wood believes that both technologies will evolve investment strategies, reduce costs, and increase productivity.
Why It’s Important
Saturday’s tweet was not the first time that the globally renowned Wall Street investor has spoken highly of the potential of both technologies. She said in a January 12 blog post that digital wallets and blockchain technology are two of the most important technologies shaping the future, and continues to praise the future of these technologies.
Back in February, Wood declared that Bitcoin’s market rally would increase moving forward, with the popular cryptocurrency token reaching a valuation of $1.5 million within the next seven years—despite the market being wrapped in controversy and volatility at the time.
She also recently declared that AI software is a technology that will add $200 trillion to global markets by 2030 and says software companies will be an important part of that following May’s historic Nvidia rally.
While critics of AI and crypto point to both markets being in respective bubbles, both technologies continue to have potential that could allow them to shape the future of the global economy. Web3 technologies and AI will likely have a role in the future economy, but the shape of that influence and how they converge remains to be seen.