"Sister Wood" Cathie Wood's ARK Invest released the "Big ldeas 2023" investment research report, mentioning that events such as Terra/LUNA, Three Arrows Capital, Celsius, FTX/Alameda in 2022 will cause the encryption market to evaporate about 1.5 trillion US dollars, and the future A decade of cryptocurrencies and smart contracts could create market values of $20 trillion and $5 trillion, respectively. "We believe that Bitcoin's long-term opportunities are still growing, and Bitcoin's volatility has masked its long-term returns." ARK predicts that the price of a single Bitcoin may exceed $1 million in the next ten years, and Bitcoin is also expected to expand into a multi-billion dollar. Ten trillion dollar market. At the same time, ARK said that the contagious crash caused by the centralized exchange will bring the net outflow of CEX to 560,000 BTC in 2022, which is the largest in history. This has alerted the industry and strengthened the value proposition of Bitcoin: decentralization, Auditability and transparency have forced a record number of exchanges to publish auditable financials and cryptographically verifiable Proofs of Solvency, or “Proofs of Reserve” (PoR).