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Cathie Wood, CEO of ARK Invest, shared her views on why financial investors should prefer cryptocurrency over precious metals. Wood said she is bullish on the future of Bitcoin and believes that one Bitcoin could one day be worth $1 million, but that this will not happen in the near future.
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In an interview that touched on a variety of topics, from artificial intelligence (AI) to interest rates, Wood said she believes Bitcoin could be a trillion-dollar asset like gold. However, Wood stressed that this comparison is not just about value, but that Bitcoin could also play a role as a decentralized, private alternative to traditional currencies.
For Bitcoin to reach a value of $1 million per coin, Wood said Bitcoin needs to play an important role as a security for individuals and institutions in emerging markets and has broad applicability. According to Wood, Bitcoin represents a new era in finance and stands out as a global, digital, and decentralized monetary system.
Cathie Wood said her findings are based on Bitcoin’s scarcity, security, and growing acceptance in the financial community. In her view, Bitcoin represents a major shift in the financial world, particularly following the closure of the U.S. gold window in 1971.