Elon Musk responds to Kathy Wood’s bold tweet:- Cathy Wood has some thoughts about the consequences of the Silicon Valley Bank collapse.
As the saying goes, “When you’re a hammer, every problem looks like a nail.” Speaking, Arch Invest founder Cathy Wood has the U.S. The latest meltdown of the banking system is the solution.
more crypto.
“When the US banking system was seizing regional banks, bitcoin, Ethereum, and other crypto networks were seized in response to the threat of a bank run,” Wood tweeted.
Wood is a point. While cryptocurrencies have mostly reacted in tandem with equity markets when big news has dropped in recent months, there have been times when digital assets respond better to bad news than their more regulated counterparts on stock exchanges. Is.
Wood also sees government regulators as falling asleep at the wheel as “deposits in the banking system were falling on a year-on-year basis for the first time since the 1920s!”
The 1920s reference seems to have triggered Twitter’s top commenter Elon Musk, who took the time to comment on Wood’s thread.
Musk didn’t disclose his comment, so we may never know what happened in the U.S. just before the financial collapse and the Great Depression in 1929. What happened in What are the similarities with the current year according to Musk, they are many.
Stock market beers and doomsday congregants gathered and shared memes beneath Musk’s tweet.
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“Elon Musk responds to Kathy Wood’s bold tweet”
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Information Source:-https://www.thestreet.com/