During a live chat between Elon Musk, Cathie Wood and Jack Dorsey on Ark Invest on the afternoon of May 24, bosses were asked: Do they have hope for Bitcoin and what do they think about the future of crypto?
Elon Musk: Crypto can make money intrinsically more efficient
Answers varied, but they all agreed on one thing: cryptocurrencies should and will play an important role in our future, and each of the major projects will help crypto fulfill its primary mission of giving ordinary people more power over their lives.
Tesla’s founder said he hopes cryptocurrencies will make money intrinsically more efficient so that there will be less government intervention, which he calls ‘mistakes’. According to the billionaire, cryptocurrencies will benefit and empower people, increasing the power of individuals over government.
Elon Musk, who is often referred to as Dogecoin in Somanews news, also stated that the government is just a big corporation, so it is strange in his view that people hate corporations and praise state power. The founder of Tesla and SpaceX believes that anyone who doesn’t love companies should also hate the government.
Cathie Wood: More companies should get involved in the crypto world
Cathie Wood, head of hedge fund Ark Invest, said more companies need to get involved in the crypto world as cryptocurrencies not only provide opportunities to do business anywhere in the world, but also allow users to hedge against serious inflation risk and counterparty risk.
Cathie Wood noted that many emerging markets suffer from significant inflation, face the problem of maintaining purchasing power, and that crypto is the only way to implement the idea of deflation.
The renowned investment executive also expressed hope that in the future there will be a deep convergence between crypto and artificial intelligence that will increase the networking impact of cryptocurrencies and change the world in ways we cannot even imagine.
Jack Dorsey: Crypto will contribute to the establishment of world peace
Twitter founder and Square CEO Jack Dorsey has voiced his role as a promoter of decentralization in the rise of crypto, announcing Square’s plans to create unattended and simple solutions for storing and processing cryptocurrencies. He also noted that the current monetary policy is destructive and aims to concentrate power in the hands of the most powerful.
According to the entrepreneur, crypto will radically change the current system, give individuals more power and ultimately contribute to the establishment of peace in the world.