Elon Musk, Cathie Wood, and Jack Dorsey Agree on Crypto’s Main Mission

crypto's primary mission

May 25, 2022

Reading Time: 2 minutes

Elon Musk, Cathie Wood, and Jack Dorsey agreed that cryptocurrencies would play a major role in fulfilling crypto’s primary mission of giving ordinary people more power over their lives.

The three moguls were interviewed on May 24 in a live conversation on Ark Invest’s channel. They were asked about their hopes for the future crypto; their answers varied, but they all agreed that cryptocurrencies would play an important role in their future.

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Crypto’s main mission

The founder of Tesla, Elon Musk, said he hopes the digital assets can make money more efficient to its core to have minimal government interference. According to him, cryptocurrencies will empower people, increasing personal power over the government.

Musk also stated that the government is just a big corporation, and people hate corporations and praises state power. He believes that anyone who does not like corporations must also hate the government.

Cathie Wood, the founder of Ark Invest, said that more companies should get involved in the crypto world, as it will provide opportunities to do business anywhere in the world and allow users to hedge against the serious risk of inflation and counterparty risk.

Wood noted that many emerging markets suffer from significant inflation, they face the issue of preserving purchasing power, and crypto is just the way to implement the idea of deflation.

She also expressed hope that there will be a deep convergence between crypto and AI in the future, which will increase the networking effect of cryptocurrencies and change the world remarkably.

Twitter founder and CEO Jack Dorsey expressed his role in the rise of crypto as a promoter of decentralization by announcing plans to create noncustodial and simple solutions for storing and handling cryptocurrencies. He also noted that the current monetary policy is destructive and aims to concentrate power in the hands of the strongest.

According to the entrepreneur, crypto will fundamentally change the current system, give more power to individuals, and, as a result, contribute to the establishment of peace in the world.

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