ARK Invest CEO Cathie Wood Talks About the New SEC Chairman! What Did She Say? Here Are the Details

ARK Invest CEO Cathie Wood expressed optimism about the future of digital assets under the leadership of the new SEC Chairman Paul Atkins.

Cathie Wood Praises Incoming SEC Chairman, Highlights Bitcoin's Growth Potential

Speaking about leadership transition, Wood said it is expected that Atkins will reverse the regulatory constraints imposed on digital assets by outgoing Chairman Gary Gensler and strengthen the protection of private property rights in the digital field.

Wood's comments align with a growing sentiment in the financial sector about the transformative potential of Bitcoin. Federal Reserve Chairman Jerome Powell also commented on Bitcoin, describing it as the "virtual digital version of gold".

Powell pointed out that the gold market is worth about 15 trillion dollars, while the market value of Bitcoin is only 2 trillion dollars, highlighting the significant value difference between the two.

Powell said, "Bitcoin is still in its early stages. When considering its benefits and potential in the digital economy, it represents much more than gold."

Wood reiterated this idea by highlighting Bitcoin's expanding role as a store of value and its capacity to disrupt traditional financial systems.

Wood's remarks came at a time when institutional investors are increasingly viewing cryptocurrency as a more critical asset class, leading to increased interest in Bitcoin.

As regulatory clarity increases under new leadership, market participants predict that Bitcoin and other digital assets will gain more legitimacy and adoption.