Cathie Wood Ethereum - Is This The End Of Crypto?

Cathie Wood Ethereum - Is This The End Of Crypto?

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In this video, Cathie Wood talks about the Infrastructure Bill that is generating controversy in the Senate and the consequences of passing the bill. She also discusses the difference between value stocks and growth stocks.

Here is the highlight of the content:

There seems to be a tug of war going on in the market from a rotational point of view between value stocks, which are more cyclically oriented, and growth stocks, which include innovation stocks. This is indeed a very interesting time that centers around the economic statistics that are coming out. When there's strength in economic statistics and there's fear of inflation and higher interest rates start surfacing, we get a move towards value. But when there are weak economic statistics or surprising low inflation or interest rates, then the growth stocks take over. Now, this will likely resolve on the side of growth stocks.

Regarding fiscal policy, on Saturday, the Senate will vote on the infrastructure Bill of $500 billion. And it's a sensible infrastructure deal. The bill was delayed because of some controversies on how to pay taxes on cryptocurrencies and crypto-assets. But there appears to be a fierce lobby taking place behind the scene. The tax will likely harm the evolution of Decentralized Finance (DeFi), which is based primarily on the Ethereum network as opposed to Bitcoin.

This fierce position by the US legislators could chase away technology from the country, which had already had a terrible reputation in terms of crypto regulation, partly because there are so many regulators who don't agree with one another.

The move is like taxing the internet in the early '90s before it became popular. That would have been a very bad idea because the internet has been good for innovation in the US. The cryptocurrency industry has been an unfinished business since the early 90s because the internet now has a lot to do with commerce, academics, and more. In the past, the internet was for only the government and its agencies. The $550 Bill might be held hostage in the House, even if it passes the Senate.

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