Cathie Wood: Solana network is faster and has lower transaction costs than Ethereum and Bitcoin

ARK Invest CEO Cathie Wood said on the CNBC Squawk Box program that the Ethereum network is faster and cheaper (transaction) than the Bitcoin network, and the Solana network is even faster and more cost-effective than the Ethereum network. According to previous news, ARK Invest CEO Cathie Wood said in an interview with CNBC that given that U.S. SEC Chairman Gary Gensler knows Bitcoin very well, it is difficult to think of a reasonable reason to explain his opposition to spot ETFs. Before serving as SEC chairman, he taught cryptocurrency and blockchain courses at the Massachusetts Institute of Technology (MIT). Cathie Wood then mentioned that people have “speculated” that Gensler wants to serve as the U.S. Treasury Secretary, and that the Treasury Secretary needs to be “very concerned about the U.S. dollar,” thus suggesting that Gary Gensler’s ambition to become the Treasury Secretary may be the real reason why the Bitcoin spot ETF has been blocked. Cathie Wood also predicted that spot ETFs will eventually be approved and said that the cryptocurrency market capitalization will increase from the current $1 trillion to $25 trillion by 2030.