The Bitcoin bull Cathie Woods is praising blockchain tech. Check out the latest reports about this below.
Blockchain tech to get stronger
ARK Investment Management head Cathie Wood is making a bold prediction about the future of finance and technology, according to the latest reports.
Wood said recently that once the Federal Reserve pivots, a surging economy reminiscent of the “Roaring Twenties” is likely to follow.
She made sure to highlight the fact that once the economy starts surging, blockchain technology, along with four other tech innovations, will come out ahead.
“Today, five major innovation platforms are evolving at the same time – multiomics sequencing, robotics, energy storage, artificial intelligence, and blockchain technology, all of which are converging! Tesla is leading the ‘charge’ in three, but I wouldn’t be surprised to see four–five.”
She continued and said the following:
“Once the Fed stops looking backward at CPI inflation and starts addressing the deflationary banking crisis that a 19-fold increase in short rates and an inverted yield have caused, we would not be surprised to see a return to the Roaring Twenties.”
Fed to pause interest rate hikes
It’s been just revealed the fact that the US financial titan Goldman Sachs reportedly believes that the Federal Reserve will not raise interest rates this month following the high-profile collapses in the banking sector.
Goldman Sachs’ chief economist Jan Hatzius predicted on Sunday that the Fed “would pause rate hikes this month instead of bumping them up by another 25 basis points, as was previously expected”, according to a report from CNBC.
He said the following:
“In light of the stress in the banking system, we no longer expect the FOMC [Federal Open Market Committee] to deliver a rate hike at its next meeting on March 22nd.”
Stay tuned for more news from the crypto space and make sure to keep your eyes on the crypto market.
