Cathie Wood is Optimistic About Blockchains — Ark Analyst Explains Why The Tech Underpinning Bitcoin Has Parallels With Fast Food Chains

Ark Invest CEO Cathie Wood noted on Wednesday that blockchains have existed for a long time and that new launches will keep coming. Blockchains Analogous to Fast Food Chains? Wood shared an X article by Lorenzo Valiente, Director of Research at Ark Invest, which framed Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and Hyperliquid (CRYPTO: HYPE) as distinct business models Valiente said Ethereum maps to McDonald’s Corp. (NYSE: MCD ) business model. In this model, Ethereum owns the brand, the operating system, including standards like ERC-20, and the "real estate"—which is simply blockspace plus the Layer 1 settlement guarantee that Layer 2 chains rely on. Note that McDonald’s operates primarily as a real estate and franchising company, with its global locations owned and run by independent franchisees. He then mapped Solana to Chipotle Mexican Grill Inc. (NYSE: CMG ). Just...