Meme coins, one of the latest verticals in the cryptocurrency market, do not have the staying power to stand the test of time. This is the opinion of Cathie Wood, the founder, CEO, and chief investment officer of ARK Investment Management, a company with billions in assets under management (AUM).

In a recent interview with Bloomberg Television, Wood sounded the alarms to warn meme coin investors about the possible debacle of these tokens, part of a trend that pumped thousands of these assets to the market, with many plunging to zero in hours.

Wood stated that blockchain and artificial intelligence were creating these tokens that would be “worthless” in the end. She noted that none of her private funds were investing in meme coins, that are not considered securities by the Securities and Exchange Commission (SEC) and are, until now, unregulated.

“If I have one message for those listening who are buying meme coins: buyer beware,” Wood declared, adding that:

There’s nothing like losing money for people to learn, and they’ll learn that the SEC and regulators are not taking responsibility for these meme coins.

The current meme coin market cap reaches $53 billion, having only 5 projects in the top 100, with Dogecoin, one of the first meme coins, leading the charge. Nonetheless, Trump, the official meme coin of the President of the United States, a recent project, has managed to find a foothold among these, even with a somewhat disappointing price action.

This is the kind of token that will still exist in the future, according to Wood, becoming digital collectibles in the end. Nonetheless, Wood remarked on her bullishness in bitcoin and other digital assets, stating that use cases leveraging them are multiplying and might become more relevant in the future.

Read more: Ark Invest’s Cathie Wood Calls Bitcoin a ‘New Bretton Woods’ Amid Global Currency Uncertainty

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