Cathie Wood, CEO of investment company Ark Invest, stated that Bitcoin (BTC) will be a safe haven against global economic collapses.
By host Merryn Somerset Webb for Bloomberg to the podcast Speaking, Cathie Wood came to the fore with her statements about Bitcoin. Describing Bitcoin as a safe haven against both inflation and deflation, the CEO said that in 10 years against possible crises to Bitcoin investment what you did he stated.
On the other hand, Wood claimed that the younger generation would prefer Bitcoin rather than investing in gold or cash, and made the following statements:
Bitcoin is a protection shield against both inflation and deflation. I am definitely investing in Bitcoin against the economic crises that may occur in the next 10 years. There is already demand for gold, this has happened. Bitcoin is new, institutions are just getting involved. Young people prefer to hold Bitcoin rather than gold.
On the other hand, the banking sector opaque that it has an internal structure and that Bitcoin is much more transparent arguing that it is Cathie Woodmade a remarkable comparison between both industries.
In the past months USA Parallel to central banking bankruptcies, Bitcoin has increased since the beginning of the year. increased by 50% Reminding that, he predicted that banks would be dragged into crisis again.
Stating that Bitcoin has proven its own story and its main function in such situations, the experienced name continued his speech with the following statements:
Banks work with a very opaque system. You can only guess about them. Banks lose deposits over time and have to finance them by selling securities. Deposit outflows have not stopped and they are forced to raise interest rates to compete with money market funds.