Ark Invest’s Cathie Wood believes in Bitcoin over the long term
The CEO of ARK Invest shared her stance on the current global situation versus the Bitcoin stand and suggested to see Bitcoin in the long term.
At present, Bitcoin’s price is around 57,700 dollars but still, people are not lagging to buy Bitcoin even at this high price. However, this price is low from its all-time high and this is making newcomers stressed about their Bitcoin holding. Ark Invest CEO suggested indirectly to all the Bitcoin lovers to remain away from such panic.
In a recent interview with CNBC, Cathie Wood– CEO of Ark invest- shared her point of view on the current situation of Bitcoin.
According to Cathie, the global economy is moving toward becoming deflationary. And if the analyzed data of Cathie is exact then in that situation Inflation is coming down. However, Bitcoin is out of these things to protect investors as a hedge against inflation.
“Longer term, it is important to protect against counterparty risk in the case of an ’08 ’09 type of meltdown. It is also a very important asset class to protect against the wealth other than inflation.”
She also said that there will always be favourable rules for Bitcoin “as rules-based global private monetary network, the likes of which we’ve never seen before.”
The statements of Cathie pointed Bitcoin investors toward the “counterparty risk”, about which investors are thinking. Cathie indirectly said that Bitcoin took birth during the global economy’s downfall so Bitcoin is also out of the counterparty risk, default risk.
As a Bitcoin leader, Cathie asserted that there is no need to take tension because in the future there will be no restriction on Bitcoin to transfer and hold in any third-party wallet, just like today.
When the interviewer asked Cathie what she thinks about the current market situation. Then Cathie refused to give suggestions on investment but still, she said that “Ark Invest’s on-chain analytics, more indicators were flashing “green” than those showing “red.”
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