During a live chat on Ark Invest’s channel today, on May 24, Elon Musk, Cathie Wood, and Jack Dorsey were asked what their ambitions are for Bitcoin and what the future of crypto looks like?
Though the answers differed, they all agreed on one thing that the cryptocurrency must and will play a significant part in our future, and each of the moguls will work to ensure that crypto achieves its core goal of giving regular people greater control over their lives.
Stand United For The Crypto’s Main Mission
The Tesla CEO expressed his optimism that cryptocurrencies will make money more efficient at its core, reducing government involvement, which Musk described as “a mistake.” Cryptocurrencies, according to the billionaire, will benefit and empower people, giving them more control over the government.
Elon Musk further added that the government is basically a large company, and that it is bizarre that people dislike corporations while praising state authority, in his opinion. The inventor of Tesla and SpaceX believes that anyone who dislikes companies must also despise the government.
Next, Cathie Wood, head of fund Ark Invest states that More corporations should get engaged in the cryptoworld, since cryptocurrencies not only allow consumers to do business anywhere in the world, but also allow them to hedge against major inflation and counterparty risk. Wood clarified the subject of inflation by stating that many emerging markets are experiencing high inflation and are struggling to maintain buying power, and crypto is only one approach to execute the concept of deflation.
The well-known investment manager also voiced her belief that in the future, there will be a profound connection between crypto and AI, which will strengthen the networking impact of cryptocurrencies and transform the world in ways where it seems impossible.
On the other hand, by revealing Square’s ambitions to provide noncustodial and easy solutions for storing and processing cryptocurrency, Twitter founder and Square CEO Jack Dorsey acknowledged his involvement in the emergence of crypto as a proponent of decentralization. He also stated that present monetary policy is detrimental and tries to consolidate power in the hands of the most powerful.
According to Jack Dorsey, cryptocurrency will radically alter the present system, giving citizens greater power and, as a consequence, contributing to global peace.