So let’s not waste. Any more time let’s get right into it and innovative forces in the etf world today, she’s also one of the most successful kathy woods. Signature arc innovation fund returned an astounding, 148 percent in 2020 and she says there’s still a lot of runway ahead. Kathy’S, the founder cio and ceo of arkhanvest and she’s with us now in our etf edge, along with bob pizzani kathy it’s nice, to see you again welcome to halftime bob. Why don’t? You start us off kathy great to see you and what a tremendous year it’s been for you. You now have over 50 billion dollars in assets under management and your flagship arc innovation funds up nearly 20 this year alone, but i’ve got to start with your biggest holding it’s tesla in the ark innovation fund, it’s also in the next gen internet fund, it’s. Also in the technology and robotics fund that you run, how do you feel about tesla’s price now and are you still adding to your position? Uh, yes! Well, as you know, we report our trades every day and you will see that uh we have been adding to tesla. We, our confidence in tesla, has grown as we’ve done. Research on what ride sharing potentially could add. It could limit the risk, significantly it’s a much more profitable business than electric vehicles, and we do think, even though i think there’s some debate at uh tesla, whether or not they should launch a human driven ride hailing network.
It would be a very good bridge. We think to their autonomous strategy and we think they will decide to do that. I don’t think anyone has uh in their models, uh anything for ride, sharing, intelligence expertise, the 30 billion miles they’ve collected of real world driving data. No one comes close, not even i think google might be at 30 million compared to 30 billion, and we know that in the ai world and autonomous is ai that uh, that the company with the the most data and the best quality data, will win uh. So we’re pretty excited about autonomous and our the probability of success in autonomous uh, we believe is going up uh and therefore our price target will probably follow at some point. Bitcoin is on everybody’s mind right now. Your next gen internet fund has a very large position in the grayscale bitcoin trust uh. So your thoughts on this, your thoughts on bitcoin, a bitcoin etf for 2021 – is it coming, and you have any concerns that the grayscale closed end fund still trading at a pretty significant uh premium. Well, the premiums come down quite a bit. I think now that we know uh that the next sec, commissioner, is going to be david, gensler uh. I, who spent the last few years at mit uh teaching a class about blockchain technology bitcoin. I think he understands the technology and he understands the currency itself uh. So i think the probability of an etf uh has gone up uh.
We also know that the director of research uh for crypto in the crypto space at the sec has been promoted and will be reporting directly uh to gensler uh. So again, i i think we have uh individuals now uh involved, who really understand the space and i think the likelihood has gone up. What has surprised us. We expected institutional interest to pick up this year and it certainly has, but the way in which it’s picked up has surprised us uh. I don’t think we ever thought there would be broad based uh substitution of bitcoin for cash on corporate balance sheets uh. So we find that very interesting uh. If all corporations in the united states were to put uh, i think it’s. Yes, ten percent of their cash into bitcoin. That alone would add uh 200 000 to the bitcoin price uh. Now we obviously do not believe this is going to happen. Uh very quickly, uh. We are we’re talking about maybe the equivalent of 900 billion dollar market cap equivalent or for bitcoin that’s that’s, less than half the price of uh. You know the apples and amazons of the world, so you know this has to mature a little bit before broad based adoption can take place, but we’re very reassured that companies like square and tesla have chosen to allocate they’re on the right side of change when it Comes to innovation and therefore we think it’s wise that they diversify some of their cash, and i think the biggest surprise to many uh tesla doubters is that it is now in a position where it has that much cash uh that it is diversified.
Now you’ve been directionally right on a number of other big stock bets, including teledoc. This is your largest holding in the genomics revolution now. I know that tesla has dropped over six percent at the making of this video, but remember that we are not just investing into a company. We are investing in the tesla because they have great fundamentals and their fundamentals have not changed. So therefore, there’s no reason to panic to sell or to just freak out over a price drop. In fact, we as long term investors should really enjoy these sort of price drops, as they give us more of a chance to buy a little more tesla. So this is why we should not focus on the short term day to day or week to week prize volatility, as that can be very toxic to some and, if you’re, a long term investor, then you know that days like these is: where majority of the money Can be made and again if you are planning on holding into tesla for the next five to ten years, then a price drop like today or the price drop like we’ve, been having this past week should not matter at all, because it is a fact, and we Also know that kathy wood, one of the most bullish tesla investors out there, has a very strong conviction on tesla and has also been adding to her position, and we have to remember that. Tesla is not just about vehicles it’s also about solar energy batteries, energy utility and storage and pretty soon robo taxis.
We also have to remember that arc. Invest are long term investors, so whenever you feel like you’re gon na start to panic, when you see a red date in make sure to just go back to one of these videos and remind yourself that tesla fundamentally has not changed at all. So with that in mind, i really hope that you guys got some value from this video and just remember that red days are your friend and if you want for free stocks, weeble is going to be giving you four free stocks. If you deposit, 100, or more into your account and one of the stocks, could be valued up to 1, 600, so be sure to sign up using my link down below in the comments or in the description, and also do not forget to just follow me on Instagram and join my discord chat so that we can have a more of a one to one conversation again.