Last year was unlucky for the crypto market. Investors and crypto users have faced prolonged bearish spells in the past few months due to the sudden collapse of FTX, Terra, and Celsius Network.
Cathie Wood, the Ark Investment CEO, highlighted that in her “45 years on Wall Street and more than 30 years in portfolio management” she had never experienced such unstable market conditions. She highlighted in her blog post that due to high interest rates and inflation, the equity market faced a “wall of worry” in 2022.
“After the most difficult year ever in the equity market for innovation-based strategies, we just sent our clients this letter highlighting the breakthrough technologies that are already transforming the world. In our view, innovation solves problems,” Cathie tweeted.