FX168 Financial News Agency (Asia-Pacific) reports that the "queen of stocks," Cathie Wood, founder of Ark Funds, warns the market that most memecoins will go to zero, and buyers must exercise caution. This is similar to billionaire Elon Musk's view from early March, where he emphasized that memecoins are not securities, and the currently popular memecoins are akin to gambling; one should never invest their life savings in this market.

Wood warns that the current cryptocurrency market, valued at $2.6 trillion, is filled with millions of memecoins, but most may ultimately become worthless.

(Source: MSN)

She explains, "The combination of blockchain technology and AI is giving rise to millions of memecoins, but they may ultimately not be worth much."

She further reiterates that Ark Invest's funds will not invest in these tokens and reminds investors to operate cautiously.

She believes that most memecoins will ultimately be filtered out by the market, but she also acknowledges that a few memecoins will become digital collectibles and withstand the test of time, with Trump's official TRUMP coin possibly being one of them. "If I were to give a piece of advice to investors buying memecoins, it would be to exercise caution," she stated.

She emphasizes that losses are the best learning experience and that many investors will realize after losing money that the SEC and other regulatory bodies will not be responsible for these memecoins. In fact, the SEC made it clear in February that memecoins do not fall under "securities," and thus are not regulated, which makes the memecoin market highly risky.

Days before Trump took office on January 20, he launched the TRUMP meme coin, which immediately attracted billions of dollars in Trade volume, but the hype did not last long. The price crash proved Wood's point: these tokens depreciate rapidly.

Across the market, the largest meme coin remains Dogecoin (DOGE), with a Market Cap exceeding 50 billion dollars. Other meme coins such as Shiba Inu (SHIB), PEPE, and BONK have also gained a large following. The appeal for retail traders is clear: meme coins are cheap, and if prices skyrocket, early buyers can reap enormous rewards.

However, Wood does not share this view. Unlike Bitcoin and Ethereum, most meme coins have no real use cases, and their prices can rise or fall within minutes.

Musk previously appeared on a podcast hosted by American comedian Joe Rogan, where he criticized buying meme coins as akin to gambling in a casino, expressing disbelief that meme coins are still legal.

He stated, 'It's absurd that people are putting real money into these coins, and then you can easily pump the price and sell for profit.'

Further reading: Musk suddenly made a rare statement! He sent a significant signal to the cryptocurrency market…

Despite his skepticism towards meme coins, Wood holds a bullish outlook on Bitcoin, Ethereum, and Solana. She pointed out that the adoption rates of these coins continue to rise, and the number of use cases will only increase. Bitcoin remains the most powerful player, and she has predicted multiple times that by 2030, Bitcoin's value will exceed 1 million dollars.

(Source: Twitter)

This prediction is consistent with Ark Invest's past reports, which have remained extremely Bullish on Bitcoin's long-term development.

Even amidst recent market fluctuations, Ark Invest actively increased its positions in two companies closely related to the crypto space during last week's crash:

1. Increased Shareholding in Robinhood (HOOD): ARKK bought 269,864 shares, valued at 9.6 million USD;

2. Increased Shareholding in Coinbase (COIN): ARKF bought 64,358 shares, valued at 11.53 million USD.