Cathie Wood: Bitcoin is a "financial expressway", a type of hedge asset
2024/03/24 11:19
Ark Invest CEO Cathie Wood stated that the company has been closely monitoring emerging
markets, and the use cases of digital assets make her believe that
Bitcoin is a hedge asset to some extent. Cathie Wood referred to Bitcoin as a "financial highway", reiterating a price target of 1.5 million dollars. "There are signs that not everything is fine in the world," she said when talking about countries like Nigeria, which due to its currency's significant devaluation, is one of the biggest adopters of Bitcoin.
Therefore, Cathie Wood views Bitcoin as both a hedge asset and risk asset. She indicated that with more institutions entering this field, the price of Bitcoin could easily rise above 3.5 million dollars. However, she did not provide a new specific price target, stating "Bitcoin still has a long way to go."
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