Cathie Wood Bitcoin - Everyone IS GETTING IT WRONG! (Crypto News)

2 years ago
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Cathie Wood Bitcoin - Everyone IS GETTING IT WRONG! (Crypto News)

In this interview, Cathie Wood recalled how she became one of the earlier adopters of cryptocurrencies.

Cathie narrated that in 2012, as a student of Disruptive Innovation, she observed that the financial world hadn't innovated any significant thing in 150 years. Rather, the financial system was looking backward because of the tech and telecom crash and the 2008 global financial meltdown. Then, business risk and career risk were the top topics of every conversation. Instead Of looking to the future of opportunities, everyone was trying to protect their businesses and jobs. Meanwhile, Cathie and her team were doing the opposite, as she recalled:

"We became more and more odd and not welcomed because we were too volatile."

However, Cathie resolved to not stick with the status quo of the traditional financial world where compliance departments wouldn't allow an analyst or portfolio manager to say anything about their portfolios or research to the outside world.

But a bigger problem was that people stopped investing in the future and became benchmark sensitive. But Cathie observed that: "if we are going to remain competitive in the world, we're the most innovative nation in the world. Let's not let the financial markets deter innovators from innovating."

So, she decided to forget about stocks and focus on innovation because she realized that,
"The future of investing is investing in the future."

Narrating how she became one of the pioneers of Bitcoin adopters, Cathie had this to say:

"It started in 2011 when the director of research of my company came from Lyons. He was an analyst. In 2011, he started talking about crypto in every meeting. And I thought, ``Ok, we've got the platforms, namely DNA sequencing, robotics, energy storage, and next-generation internet." She continued:

"We began to learn more about how we had the freedom to do this. We were away from the traditional world, so we could use our resources to do this."

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