09.12.2021

Head of Ark Invest: “Bitcoin is much more than a store of value and digital gold”

Cathy Wood, CEO of investment management company Ark Invest, expressed the opinion that the cryptocurrency market is far from the end of the rally.

Wood also believes that the prospects for the crypto market are quite bright, since Bitcoin is superior to gold as a digital store of value.

Despite the recent rally, the markets are showing no signs of a price bubble, Wood said. The top manager added that cryptocurrencies have become a generational phenomenon that evolves as technology advances.

“Are we seeing a bubble? The great distance can hardly be imagined.

The average investor does not understand how provocative the next five to fifteen years will be, as these S-curves feed off each other and enter exponential growth trajectories that we have not seen before, ”said Wood.

Commenting on the comments of billionaire investor John Paulson, who criticized bitcoin and cryptocurrencies, Wood strongly disagreed. She excludes that at some point in the future, cryptocurrencies will depreciate to zero.

At the same time, the expert believes that regulation is necessary for the maturity of the sector, which will affect Bitcoin in the most positive way:

“We think bitcoin is much more than a store of value or digital gold. This is a new global monetary system that is completely decentralized and does not obey the whims of politicians. “

At the moment, according to Wood, BTC is starting a short-term rally, trading at $ 52,000, having added 8% over the past seven days.

This situation stimulates the entry of new people into the crypto space , which is also facilitated by the emergence of retail investment platforms such as Robinhood .

“I think Robinhood introduced a whole new genre of investing and investing in your future and learning the hard way… Robinhood has done a great service to the investor community ,” said Katie Wood.

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