Cathie Wood Confidently Picks Bitcoin as the Best Long-Term Investment
Cathie Wood, the CEO and founder of Ark Invest, expressed her strong preference for bitcoin as a long-term investment over traditional assets like cash and gold.
In a recent interview on Bloomberg’s “Merryn Talks Money” podcast, Wood emphasized that bitcoin serves as a hedge against both inflation and deflation, making it a valuable asset. She compared bitcoin to gold, highlighting its digital nature and its potential for growth. Wood’s optimism for bitcoin is consistent with her previous projections, including the belief that it could reach $500,000 within five years.
She also discussed the emergence of the metaverse and the shift in asset preference among young people. Despite the prevailing belief that bitcoin is primarily an inflation hedge, Wood emphasized its transparency and lack of counterparty risk, distinguishing it from traditional banking systems. In addition to bitcoin, she delved into topics like artificial intelligence (AI) and shared insights on Tesla.
Clever Robot News Desk 8th November 2023
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