Express
ARK’s Cathie Wood Blames Crypto Crash on ‘ESG Movement’ and Elon Musk
Summary: Elon Musk and the “ESG movement” are responsible for the recent drop in cryptocurrency prices, an influential fund manager told CoinDesk’s Consensus 2021 conference today. Cathie Wood, the founder of Ark Investment Management, said bitcoin – which has lost up to 50% of its value in the last few weeks – has come under pressure ...
Elon Musk and the “ESG movement” are responsible for the recent drop in cryptocurrency prices, an influential fund manager told CoinDesk’s Consensus 2021 conference today.
Cathie Wood, the founder of Ark Investment Management, said bitcoin – which has lost up to 50% of its value in the last few weeks – has come under pressure from institutional investors concerned about its environmental profile.
Musk, who had buoyed markets by saying Tesla would buy bitcoin for its treasury and accept it as payment for its cars, reversed course on the latter, sending prices downwards.
By Amy Liu
Tags: Cathie Wood,Crypto
Link: ARK’s Cathie Wood Blames Crypto Crash on ‘ESG Movement’ and Elon Musk [Copy]
