Cathie Wood, the founder of ARK Invest, has expressed her belief that the Securities and Exchange Commission (SEC) is wrong in its approach to regulating cryptocurrencies. She argues that the rules surrounding cryptocurrencies are unclear and that the government should focus on implementing a checks and balances system instead of persecuting entities like Coinbase. Wood also suggests that these regulatory issues may have a significant impact on the 2024 presidential election. She believes that the SEC’s actions are driving digital asset businesses away from the US and that bitcoin is becoming a safe haven during times of economic instability. Wood further predicts that bitcoin could reach $600,000 in the future, which would be a significant increase from its previous low point in the mid-$16,000 range.

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