The Hong Kong Web3 Festival was the scene of an in-depth discussion about the future of blockchain and Bitcoin, with the virtual participation of Cathie Wood of ARK Invest and DC, HashKey's leader in Singapore and CEO of HashKey Capital. The event kicked off with an enthusiastic tone set by DC, who expressed both pressure and excitement by representing a firm that manages a portfolio of more than a trillion dollars and more than 500 projects.
In welcoming Wood, DC highlighted his extensive investment experience. Wood, while regretting not being physically present, shared his excitement and honor at participating. She recounted how previous discussions with Hong Kong officials inspired her and how she seeks to bring a U.S. perspective to the global conversation.
Wood analyzed the evolution of blockchain and Bitcoin, describing them as fundamental parts of a "grand concept" of an interconnected financial system through the internet. He highlighted how early Web3 influences are impacting e-commerce and financial systems, noting that the market is global, cross-border, and inclusive for anyone with internet access.
Delving into the potential of Web3, Wood compared it to revolutionary technologies such as the phone and television, emphasizing that it is meant to improve productivity and quality of life significantly. He underlined the trend towards greater digital asset allocation over the next 5-10 years, mentioning Bitcoin's performance during economic downturns and its growing acceptance as a strong asset against inflation.
The conversation turned to the integration of artificial intelligence with blockchain. Wood praised the synergy between these technologies, mentioning ARK initiatives such as monthly brainstorming sessions on Bitcoin and related podcasts. He talked about the growth of blockchain in the gaming sector, powered by AI, with investments in projects such as NFLRivals and Polkadot. Wood expressed confidence that AI is powering the gaming industry, backed by successful examples of integration such as Nvidia's GPUs.
As for the launch of ARK Invest's Bitcoin Spot ETF, Wood described it as a significant milestone, despite regulatory challenges, especially from bodies like the SEC. He detailed the educational efforts ARK has undertaken to help investors safely navigate the crypto space.
Concluding the conversation, DC asked Wood about the future price of Bitcoin, where she projected it could reach 1.5 million by 2030. This forecast is underpinned by recent regulatory approvals and growing institutional interest aligned with modern portfolio theory.
In summary, the discussion between Wood and DC offered valuable perspectives on the current developments and future potential of blockchain technologies, highlighting their growing influence and integration into various sectors of the economy.
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