Cathie Wood, CEO of ARK Invest, says there is no better protection against inflation than Bitcoin.
Here’s what Wood said about Bitcoin during this interview:
“Normally, when there is a parabolic movement like Bitcoin enjoyed in 2017, it usually takes a long time for that asset or action to return to that peak… I think part of that can happen again due to the bond’s yield, doing what many people didn’t expect . Do we make mistakes in the monetary and fiscal policy that we will pay for in the future? – Most of us would say that one of the typical ways is inflation …
“I believe that there is no better protection against inflation than Bitcoin. As we know, gold is moving, although it is now lagging behind Bitcoin quite dramatically, so there is probably some change in participation, but I believe both will do well over time… I think we will hear about more companies putting this coverage on their balance sheets, especially technology companies that understand the technology and are comfortable with it. ”
On December 18, 2020, when Bitcoin was being traded for around $ 23,000, during an interview on Bloomberg Television, Wood said the following about his company’s current level of optimism about Bitcoin:
“We are extremely optimistic. Our confidence in him has increased since 2017 because what we saw when it dropped from $ 20,000 to less than $ 4,000… was [que] Bitcoin’s share in the crypto ecosystem has gone from a low range of 30% – in terms of value network values - to a low 70%, and what does that tell us?
“It confirmed in our minds that Bitcoin is the reserve currency of the crypto ecosystem. So it’s the reserve cryptocurrency, which is a very important role. It’s the flight to the security currency. The Bitcoin blockchain is the most secure of all blockchain and therefore it makes sense for Bitcoin to be the reserve currency of the crypto ecosystem. ”