Cathie Wood reveals Bitcoin's long-term investment prospects
Cathie Wood reveals Bitcoin's long-term investment prospects
Cathie Wood, CEO of ARK Investment, an investment management fund, called Bitcoin digital gold and the best defense against deflation.
Cathie Wood is one of the stakeholders who will benefit if the SEC approves spot Bitcoin ETFs. ARK Investment Fund, like the rest of the companies, is waiting for a response to its Bitcoin ETF application, and the deadline for the SEC's decision is fast approaching.
It's also worth noting that the ARK Next Generation Internet ETF acquired the Grayscale Bitcoin Trust (BBTC) in November 2022 at a discount of about 40%.
In an interview with Bloomberg, Cathie Wood revealed that she plans to invest in Bitcoins in the future, preferring them to gold or traditional fiat currencies.
The founder of ARK Investment foresees an era in the near future driven by new technologies such as artificial intelligence, electric cars, robotics, genome sequencing, and blockchain.
When Cathie Wood was asked about her investment choice to preserve an asset for 10 years, she said, "Bitcoin, without a doubt". The renowned financier and investor considers the cryptocurrency to be "digital gold". She explained that with Bitcoins, there is no inflation or deflation, as the participation of institutions is zero, and therefore there is no counterparty risk.
It should be noted that earlier, Cathie Wood predicted that the price of Bitcoin would exceed $1 million in the next decade. Currently, the price of BTC is 34,400 dollars, which is about double the peak in 2021.
Meanwhile, Bitcoin has fallen to $34,500.
