Cathie Wood: Most Meme Coins Will Become Worthless
The Future of Meme Coin
Cathie Wood, CEO of 'ARK Investment Management', during an interview with Bloomberg Television on January 28, 2025 - Bloomberg stated the following:
Source:
Bloomberg
Cathie Wood stated that most of what is known as 'meme coins', which flood the cryptocurrency market valued at $2.6 trillion, will eventually become worthless.
Wood, the CEO and founder of 'ARK Investment Management LLC', added during an interview with Bloomberg Television on Tuesday that the integration of blockchain technology with artificial intelligence has led to the emergence of 'millions' of meme coins that 'will have little to no value', noting that her investment funds do not invest in these currencies.
Meme coins are a type of digital asset often inspired by jokes, current events, or trending cultural phenomena. Last February, the U.S. Securities and Exchange Commission stated that these coins are not considered securities, meaning they will remain outside the scope of regulation.
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Markets may react violently. Oil, gold, and cryptocurrency prices may rise sharply amid increasing global uncertainty.
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