Crypto Queen Cathie Wood warns: 99% of meme coins will eventually be worthless

Zhitong Finance APP learned that "in the cryptocurrency market with a total market value of up to $2.6 trillion, 99% of memecoins may eventually become 'digital waste paper'." Cathie Wood, head of ARK Investment, issued a heavy warning on Tuesday. The Wall Street female stock god who was once deified for accurately predicting the surge in Tesla's stock price, gave a sharp judgment on the current altcoin craze sweeping the world. It is understood that altcoins refer to digital currencies created by imitating the technology and design of Bitcoin or other mainstream cryptocurrencies.

As the helmsman of a $50 billion private equity fund, Wood made it clear that her fund "will not touch these worthless things." She pointed out that the combination of blockchain and AI technology is spawning "millions" of memecoins that lack substantive value. These digital currencies based on Internet memes, popular culture and even political events (such as Trumpcoin) are creating unprecedented financial bubbles.

The statement of the U.S. Securities and Exchange Commission (SEC) in February this year became a catalyst for the memecoin carnival-regulators made it clear that such digital assets would not be regulated as securities. Wood is blunt about this: "I have only one piece of advice for investors who rushed in: buyer beware. Nothing teaches people a lesson better than the loss of real money, and they will eventually understand that regulators will not pay for these bubbles."

Ironically, just a few days before President Trump took office, the meme coin of the same name launched by his team caused a sensation, with a single-day trading volume exceeding billions of dollars. Although the price of the coin subsequently plummeted, Wood believes that such digital collections with strong personal IP attributes "may have long-term value" and may even become "digital relics that stand the test of time."

While singing the bad news about altcoins, Wood reiterated her firm optimism about mainstream crypto assets. She said that the practical scenarios of leading public chains such as Bitcoin, Ethereum and Solana are "growing exponentially", and "it is not a fantasy that Bitcoin will exceed one million US dollars by 2030."

It is worth noting that although this "crypto queen" has repeatedly stood up for Bitcoin, the actual data is a bit embarrassing: the current trading price of the world's largest cryptocurrency is hovering around $82,000, which has fallen by more than 13% from last year's high.

Wood particularly emphasized that the real value of blockchain lies in its deep integration with cutting-edge technologies such as AI and the Internet of Things, rather than short-term speculation. She reminded investors: "When the tide recedes, those who will swim naked will be those speculators chasing hot spots, and real value investors will eventually reap the dividends of the times." After the crypto market experienced a series of sharp rises and falls, the warning of this Wall Street woman undoubtedly poured cold water on the enthusiastic market.