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Cathie Wood Explains Why Crypto is Gaining During Bank Crisis

Ark Invest's Cathie Wood has been saying all along that certain characteristics of cryptocurrency make it a good bet for the future. In a series of tweets she wrote the evening of March 22, she details her views on some specifics of the ongoing situation

Ark Invest's Cathie Wood has been saying all along that certain characteristics of cryptocurrency make it a good bet for the future. In a series of tweets she wrote the evening of March 22, she details her views on some specifics of the ongoing situation and the virtues of crypto. "Ironically, as crypto assets soared during the Silicon Valley Bank meltdown, this administration suggested that investors in regional banks -- equity and bond holders -- should prepare to be 'wiped out' in the aftermath of an unprecedented 20-fold increase in the Fed funds rate," she wrote.

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