The CEO and founder of investment management company ARK Invest warns the public about the dangers of trading in memecoins.
Cathie wood says in a recent interview with Bloomberg Crypto that the U.S. Securities and Exchange Commission did a good thing by declaring memecoins not to be securities.
Buyer beware is the message I want to send out to those who listen and are interested in buying memecoins. The message from regulators is clear, I believe. .”
She believes that memecoins are going to lose value.
Now learn that the SEC and regulators are not taking responsibility for these memecoins.” Learn that SEC regulators and the SEC aren’t taking any responsibility for memecoins .”
Wood asserts that, while leading cryptoassets are likely to increase in value over time, the same isn’t true for the vast majority of memecoins.
The millions of memecoins are likely to be worthless. We think that the three big ones – Bitcoins, Ethereums, and Solanas – will become increasingly important over the next few years. Not so .” with Memecoins
Wood shares her opinion on the value of President Donald Trump’s mecoin.
Memecoins are going to be digital collectibles. Some memecoins will stand the test of time, and this may be among them. But our assumption is that if you are talking about millions, it’s a bit too much and they won’t be worth much .”
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Sources of Images include Pixabay Creative Commons & Midjourney
Cathie Wood warns against Memecoin, saying ‘Millions of Dollars’ will be deemed ‘Worthless.’ This article may change as new information becomes available.
