Ark Invest's CEO says it's impossible to shut down Bitcoin – Regulators will become kinder over time

Cathie Wood, CEO of Ark Investment Management (Ark Invest), says regulators cannot shut down Bitcoin. He added that over time they will become more friendly to cryptocurrencies. Wood isn't the only one who thinks governments can't shut down Bitcoin. Regulators can't turn off Bitcoin, Ark's CEO Ark Invest CEO Cathie Wood shared his views on bitcoin, its regulations and environmental impact, at the Consensus 2021 conference on Thursday. The CEO said that bitcoin "is already on its way and it would be impossible to shut it down". He added that regulators will be "a little kinder over time" towards cryptocurrencies due to fear of missing out on innovation in the crypto industry (FOMO). Wood also commented on Bitcoin's environmental impact, stating that "half of the solution is through understanding the problem." “ This monitoring of what miners in North America are willing to do about how much of their electricity use is generated by renewable sources will clearly highlight this issue and accelerate the adoption of renewables. encourage. otherwise he would have taken his place. Earlier this week, Tesla CEO Elon Musk announced that he was meeting with North American Bitcoin miners at a close-up meeting hosted by Microstrategy CEO Michael Saylor. The miners agreed to establish a Bitcoin Mining Council to encourage the use of renewable energy in bitcoin mining. Wood is not alone in believing that governments cannot shut down Bitcoin. SEC Commissioner Hester Peirce said that banning Bitcoin is the same as turning off the internet. "I don't understand how to ban this … It would be stupid for the government to try this," he added, "I think it's very difficult to ban something that is essentially precedent. Congressman Patrick McHenry said in 2019 that bitcoin was 'unstoppable'. we shouldn't try to deter and

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