"Everyone Must Prepare For What Is Coming!" - Cathie Wood Bitcoin Interview

追加: 2026-05-23

[00:00:00]They're They're looking to follow, actually. They're looking to follow.

[00:00:04]That's not necessarily bad, especially if a stock has miles to go. But, in a world in the world of innovation, where there is a lot of volatility, you they can they can fall into a trap of buying high and selling low just because they are so momentum-driven.

[00:00:24]And, you know, what I find interesting about that is um many retail investors are uh you know, accused of being just momentum-oriented.

[00:00:34]And you have the statistics to prove that that is not true. And we certainly are in that camp, as well. Again, it's a it helps the liquidity in the market.

[00:00:52]Hey guys, welcome to Everyday Finance.

[00:00:54]In an urgent market outlook, ARK CEO Cathie Wood predicts a powerful shift from a rolling recession to a rolling recovery, arguing that recent inflation was merely a temporary byproduct of supply shocks and tariffs. She believes that 2026 will usher in a period where economic growth and price stability coexist without the need for permanently high interest rates. Though she warns the policy window to secure this future is rapidly closing. Wood asserts that incoming tax cuts and deregulation in AI and cryptocurrency will attract global capital, accelerate innovation, and trigger a massive surge in productivity without fueling inflation. As institutional investors quietly position themselves for a transition out of the bear market, Wood is aggressively increasing her stakes in digital assets and technology, maintaining an unyielding enthusiasm despite Bitcoin's struggle to regain its all-time high.

[00:01:44]Ultimately, she views the current market downturn as a critical accumulation phase and confidently reassures investors that an explosive, long-awaited crypto bull market is looming just on the horizon.

[00:01:55]Yeah, and I think one reason we've had this response and you as well is we are not going to be sitting on boards the way traditional venture capital teams are. Ours is a much more is a different model. What we are doing is providing the research out there, elevating the companies in terms of visibility in the retail world. And you know, the retail world is important. These are their customers for many companies, right? These are their customers and we we learned even though Tesla was a public company in the early days it was very hard for Tesla to get institutional interest. They Tesla wasn't in in a benchmark. It seemed like a wild wildly speculative company.

[00:02:58]And yet and yet the research we were doing brought retail along. I think that many were there already cuz they owned the cars, so they had done their own research. But then we added another layer of research which added to their comfort in buying Tesla stock because for every naysayer in the institutional world we would have some research saying no, that's not correct and here's the data.

[00:03:31]And the one I love the best, remember I remember and it was 2018-19 when Tesla was going through production hell. And I was on one [clears throat] of the news programs facing you know, facing a debater who who basically said well, Tesla's going bankrupt. And I said, "Really?" So, this was manufacturing I said, "You think a company run by a person who has just landed two rockets on a barge in the ocean is not going to be able to manufacture an EV?"

[00:04:12]So, it was just a very simple way of thinking about it, but it caused some aha moments.

[00:04:19]I I think actually retail ran with that more than institutions.

[00:04:23]But they came along, especially after Tesla entered the indexes. I think what I'm trying to say is both you and we trying to bring investors along before it's really obvious that they're great success stories because there is so much value accretion before these companies will enter the public markets or enter an index. Yeah. And we are very happy shareholders of Robinhood, just amazed at your product velocity and you know, how how quickly you're responding to you know, the retail demands out there.

[00:05:10]The more you do, the more they want. And you definitely are delighting the consumer and the investor.

[00:05:19]Congratulations for making it into the S&P 500. It's It's a very big deal and a lot of institutional investors were waiting for that moment, of course, to even consider you. And that's again an interesting way of investing is probably just a safer way of investing, but it also leaves on the table, as I mentioned before, tremendous value accretion.

[00:05:47]So, uh, just one final uh um, uh, way of thinking about retail versus institutional.

[00:05:55]You know, in in the day, retail money used to, and this was probably institutional talking, used to be considered dumb money. And institutional the smart money. Um, I think the tables are turning and and dumb and smart are not the words we should use, but retail is discovering new opportunities and willing to invest earlier than institutional.

[00:06:26]Uh, and therefore, enjoy more of the value accretion over the years. Yeah, it's interesting. ARK invest very much like uh, your investor base does. Uh, and and many people know this because we post our trades at the end of every day. And they will see that uh, we uh, buy low and sell high. Whereas in the institutional world, uh, and this shift towards quantitative research and factor-based investing, they actually they actually follow momentum.

[00:07:05]Uh, they follow they buy into rising price momentum. They buy into rising uh, uh, or an acceleration in growth. They're they're looking to follow actually.

[00:07:17]They're looking to follow. That's not necessarily bad, especially if uh, a stock has miles to go. Uh, but in a world in the world of innovation where there is a lot of volatility, you they can they can fall into a trap of buying high and selling low just because they are so momentum driven. And you know, what I find interesting about that is um many retail investors are you know, accused of being just momentum oriented.

[00:07:50]And you have the statistics to prove that that is not true. And we certainly are in that camp as well. Again, it's a it helps the liquidity in the market.

[00:08:02]Cathie Wood is calling the current economic shift a bigger modern-day version of Reaganomics, arguing that while the public panics over tariffs and deficits, the early stages of a massive boom are already underway. Just as capital rushed to the United States and doubled the dollar decades ago, this new cycle is being supercharged by the rapid convergence of artificial intelligence, robotics, and blockchain technology.

[00:08:24]Wood identifies the fourth quarter of 2025 as a major turning point, pointing to research that shows crypto adoption is moving at the fastest pace of any investable asset in human history, with active wallets projected to reach 1.1 billion by the end of 2026.

[00:08:40]Backed by a career's worth of research and charting, she emphasizes that liquidity ultimately drives everything, leading to the conclusion that cryptocurrency will be the best-performing asset of them all. With all macroeconomic factors aligning right now, Wood stresses to investors that this unprecedented accumulation of wealth is about to trigger a period characterized by explosive, parabolic upward moves in crypto prices. We started about 3 and 1/2 years ago.

[00:09:06]And at the time uh we really yes, would go to founders. And we had set up a wish list because our analysts are our analysts' responsibilities are broken out by technology, not by sector, not by industry, but by technology. Because we think these whether it's robotics, energy storage, AI very importantly, blockchain technology, or multiomics technology in the life science space, we think these technologies are going to scale across sectors and become mass market opportunities, which I know is music to your ears because of your retail investor base as well.

[00:09:54]Uh so we went to the founders initially and said, you know, we're just starting out. We're trying We're trying to democratize access to the technologies around which we have centered our research and investing. Uh we'd like to show you some of our research and the odds were very high, we found out, even when we were just cutting checks in the $25 to $50,000 range, which seems which seems ridiculous now. It's unbelievable we were able uh to execute. Now we're cutting checks in the you know, anywhere from the $10 to range.

[00:10:33]Um but even back then, founders were very welcoming and we found the reason was that they often were using our research from big ideas, big ideas we put out every January. They were using our research from uh our our big ideas uh in their pitch decks uh to help uh investors size the opportunities they were going after. Uh so that's not what they do as companies. What they do is heads down, innovate, move fast, break things, maybe hopefully not.

[00:11:12]Um fail fast and start over again.

[00:11:16]Um but they're not sizing markets the way we are. And so they welcomed that.

[00:11:22]They had already We're Of course, as long as they give us attribution, we were quite happy uh to be in their pitch decks.

[00:11:29]So from that angle, it was very uh much better, I would say, than we expected.

[00:11:37]And and it showed showed me how much respect these founders have for our research and our willingness more important later our willingness to give it away.

[00:11:49]The other side of this, because we've cultivated relationships with the venture capital community as well.

[00:11:57]Charlie Roberts, who leads our venture effort, came out of a unicorn and knew that world very well.

[00:12:06]And so, we've worked both angles and I I have to say we've felt more welcome a few exceptions, but we've felt more welcome in this world than I expected, given that the traditional venture capital world is so closed and so highly networked. So, have to give them credit there. And as I said, with just a few exceptions, and I know we've talked about exceptions, but we'll win them over because we're doing the right thing. I think that's the most important point here is we are doing the right thing. And I think that the founders, I think, get it before maybe the venture the lead venture team, but they're beginning to influence one another right now. So, maybe we're all headed to the same place. Yeah, maybe we'll we'll end on this note for the reasons that we've just stated and actually that you just stated, Shiv.

[00:13:10]Many companies are looking to us as they were as they are thinking about an IPO. And we're in a world where the physical world and the digital world or embodied AI is taking off and needs huge amounts of capital. Uh and so we're going to be there for them and they know it and they they are beginning to come to us now as they are looking towards IPOs to do some late-stage funding to get more visibility in the market uh and and particularly in the retail market.

[00:13:50]So, um it's pretty exciting to to see this come full circle in a way. You know, we thought we'd be blocked and and most people were from the private world for a very long time.

[00:14:05]And now there's an awakening. Wait a minute, there's this investor base that is quite complementary to the one we have in place now uh and will serve a very useful role in terms of our increasing our visibility, maybe attracting helping us attract more talent uh as they evangelize and then in our case do research uh about these companies. So, um uh I'm pretty excited about the future, Shiv. Cathie Wood envisions a structural shift that will reshape global capital and innovation, viewing a recent change in depreciation rules as the policy spark that will reignite American productivity much like the internet boom defined the 1990s. By providing corporations with unprecedented tax incentives to pour cash into automation, AI, biotechnology, and energy breakthroughs, this environment positions the United States as the most capital-efficient economy in the developed world. A reality Wood argues is not yet priced into the market. While mainstream investors debate market noise, she focuses on the math of these incentives, suggesting that the fourth quarter of 2025 marked the quiet beginning of a massive productivity super cycle where innovation is the the path to corporate profitability.

[00:15:22]Furthermore, Wood emphasizes that real institutional capital is now flooding the cryptocurrency market, predicting massive gains in the near term that will underscore Bitcoin's enduring relevance as a hedge against currency devaluation.

[00:15:35]Despite potential political opposition to crypto legislation in the house, she advises her portfolio companies to spend heavily now to capture this explosive growth, anticipating that decentralized finance will ultimately displace traditional financial services and that Arc's focus on technological advancement will capture a significant share of the global equities market.