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Cathy Wood breaks down FTX, Elon Musk and Twitter in new interview. Here are 9 of his best quotes.

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  • Cathy Wood spoke to Bloomberg on Tuesday in a broad conversation about crypto, FTX, Elon Musk and investing.
  • He compared Sam Bankman-Fried’s FTX to Bernie Madoff’s Ponzi scheme and shared his thoughts on Elon Musk, Twitter and Tesla.
  • Here are nine of Wood’s best quotes from the interview.

Veteran investor Cathy Wood isn’t shy about sharing her take on cryptocurrencies and investment strategies.

In an extensive interview with Bloomberg on Tuesday, Arc Invest’s CEO explained why he is optimistic about the underlying technology of bitcoin and crypto, and Arc’s optimism for Sam Bankman-Fried’s FTX, Elon Musk’s Twitter acquisition and Tesla. Also talked about. ,

Here are 9 of Wood’s best quotes, lightly edited for length and clarity:

1. “Many people say well, is this another Lehman, could we see a domino effect here? … Right now we think $5-$10 billion of FTX is in creditors as FTX has filed for bankruptcy. submitted, they will file claims. If you look at Lehman, they had $1.2 trillion in claims… This is fraud. This is Madoff. Madoff had $64 billion in claims. Again, FTX 5 to 10 billion.”

2. “Yes, many people have lost a lot of money. The crypto asset ecosystem loses value here. But if we’re going to play the underlying technology and the underlying technology of bitcoin and ether, ethereum, we’re right. In the new world, so I think we will recover quite quickly.”

3. “I think it’s shocking how many people were so close [Sam Bankman-Fried]… The fact that so many people have been completely fooled is quite shocking. You know, I think he had an aura or something that made people ask less questions than they otherwise would have. It’s hard to understand.”

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4. “We think that bitcoin – and you can see by the behavior of the infrastructure that it hasn’t missed a beat, not a single beat – that it’s more secure than yesterday, the day before and the day after tomorrow. I think [FTX’s collapse is] Bitcoin will skyrocket not only in the crypto world, but in the investment world as a whole.”

5. “We think bitcoin is coming to smell this rose.”

6. “But if you see that model lasts a long time, [Twitter] Promise not fulfilled. I think opening algorithms, which we think [Elon Musk] will, and remove human-driven censorship, and allow transparency of the algorithms they put in there, allow people to question them, I think it’s going to be very healthy… I really like it what he does.

7. “You may remember when Elon started his entrepreneurial pursuits with the predecessor of PayPal, that’s how long ago the idea of ​​a digital wallet, a super app like WhatsApp, was born. I know a lot, and I think if anyone in America can do it, I think he can. I think he will surround himself with the right business leaders. He can’t do it himself. He goes.”

8. “Think about the amount of data Twitter has, and think about a combination of that and artificial intelligence. To remind, [Musk] There is AI expertise and experts… I think they would be surprised and delighted with a super app type product.”

9.[Tesla is] Capturing a disproportionate share of the market – and will continue to do so – estimated to account for 85% to 95% of all car sales in the world by 2027.

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Source: www.businessinsider.com

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