Utter bullshit.
Not only is it contradicted by real-world evidence but it also violates any kind of rational thinking, common sense and basic logic of economics. But I wouldn’t have expected anything else coming from ARK’s so-called “cryptoasset analyst” idiots.
I don’t know if it’s more depressing or aggravating to see (and read) this stuff spewn out by multi-billion dollar companies and investment funds, propagated on the internet - and inevitably being taken serious by some people.