Ark Investment CEO Cathie Wood Compares NFTs to the Internet

American investor and the founder and CEO of Ark Investment — an investment management firm, Catherine Duddy Wood compared the non-fungible tokens (NFTs) to the internet.

Ark Investment CEO Cathie Wood Compares NFTs to the Internet
Cathie Wood | Image: MarketWatch

Cathie Wood, founder, and CEO of Ark Investment Management, which runs over $50 billion in assets, said that she is eyeing the explosive growth of NFTs.

Speaking of the popularity of the NFTs, she said, “This is how I felt when the internet first came about” and that the NFT movement is “going to be explosive”.

In addition, Cathie also claims that her confidence in Ethereum, the second-largest crypto by market cap and the main currency of NFT trading, has gone up drastically.

Yesterday, Cathie Wood said that Ethereum’s development is promising and Bitcoin’s value will continue to rise as more companies and institutions adopt the cryptocurrency.

In addition, ARK believes that cryptocurrencies are governed by neutral and open-source networks. What is more, ARK Invest focuses on disruptive innovation and offers investment solutions to investors seeking long-term growth in the public markets.

Two days ago, Ark Investment allowed one of its funds to invest in Canadian Bitcoin ETFs as it explores new ways to bet on digital assets.