PANews reported on March 19 that according to Bloomberg, Cathie Wood, founder and CEO of ARK Investment Management LLC, said in an interview that most of the so-called Meme coins in the cryptocurrency field may eventually be "worthless." She pointed out that the combination of blockchain technology and artificial intelligence is spawning "millions" of Meme coins, "the value of these coins will not be too high," and added that her private fund did not invest in these tokens.
"If I had one thing to say to people who buy meme coins, it's this: buyer beware," Wood said. "There's nothing better than losing money to teach people a lesson and understand that the SEC and other regulators are not responsible for these meme coins." She also said that meme coins will become "digital collectibles," adding that some of them may "stand the test of time," and Trump-related meme coins may be one of them.
Wood reiterated her optimism about larger, more established crypto assets, saying that use cases for Bitcoin, Ethereum, and Solana are “rapidly increasing” and will play an important role in the future.
