The founder of Ark Investment said it is impossible to shut down Bitcoin

Although Bitcoin (Bitcoin) Is increasingly being scrutinized by global regulators. Cathie Wood, founder and CEO of Ark Investment, believes that regulators will not be able to shut down the world’s largest cryptocurrency.

Wood said that Bitcoin is “already on the move and it is impossible to shut it down”, Bloomberg Reported Thursday. She said at CoinDesk’s 2021 consensus meeting that global regulators “will become more friendly to the passage of time” due to fears of losing the opportunities provided by the industry.

She said that the recent regulatory measures against Bitcoin in Europe, the United States, and China have caused the Bitcoin market to plummet, but the main incentive for institutions to suspend Bitcoin purchases is that Tesla CEO Elon Musk has intensified their involvement with mining. Related environmental issues.

Earlier this month, Musk hinted that he might Get rid of Tesla’s $1.5 billion worth of Bitcoin As “the rapidly increasing amount of fossil fuels used in the mining and trading of Bitcoin, especially coal, the holdings of oil”.

Wood said: “Half of the solution is to understand the problem.” He pointed out that North American miners are willing to prioritize renewable energy for Bitcoin mining.She said: “This will make the topic easier and will encourage accelerated adoption of renewable energy, otherwise it would not have been possible.” Earlier, a report by Ark Investment emphasized that Bitcoin mining is possible. Promote solar investment And promote renewable energy.

Wood’s comments came when Bitcoin failed to stay above $40,000 after falling to $40,000 Bounce to price mark on Wednesday. At the time of publication, Bitcoin was trading at $36,000, a drop of more than 8% that day.