Bitcoin bull Cathie Wood believes gold’s time has come and gone.
The CEO of Ark Invest weighed in on the enduring debate between the traditional safe haven asset and digital currency during a recent Bloomberg UK podcast, Merryn Talks Money.
In a hypothetical scenario where Wood had to choose between holding gold, a cash deposit account, or Bitcoin for a decade, she made her stance clear.
“It’s a hedge against inflation and deflation. It’s digital,” she began, passionately advocating for Bitcoin. Wood acknowledged the time-tested appeal of gold but highlighted a crucial difference. “Gold already has its demand; it’s happened,” she explained. In contrast, she emphasized that Bitcoin remains a fresh and evolving asset, with institutions only beginning to scratch the surface of its potential.
Wood’s perspective aligns with the prevailing sentiment among younger investors who increasingly favor Bitcoin over gold. She pointed out that Bitcoin’s allure lies in its technological novelty and the rising enthusiasm from millennials and Gen Z, who see it as a more attractive store of value compared to the yellow metal.
Intriguingly, Wood made a notable observation regarding the role of both gold and Bitcoin as hedges against deflation. However, she noted that Bitcoin’s recent performance suggests that it has been outshining its traditional counterpart.
In summary, Wood’s sentiment reflects the evolving landscape of investments, with Bitcoin emerging as a powerful contender.
Time will tell if more investors will follow suit as Bitcoin continues its recovery from 2022’s brutal bear market.
Read More[#item_full_content]Bitcoin Magazine – Bitcoin News, Articles and Expert Insights
In the lead-up to what many predict will be the next major cryptocurrency bull run,…
Bitcoin has once again surged past the critical $60,000 threshold, signaling a potential shift in…
The price of Bitcoin (BTC) ended the week on a good note after making a…
Bitcoin gained by over 10% in the past week as it reclaimed the $60,000 price…
Crypto analyst Jelle has highlighted a bullish pattern that has been forming on the Bitcoin…
Bitcoin has hit the $60,000 price mark, recovering a price level last seen since August…