{"id":80123,"date":"2023-11-03T03:56:50","date_gmt":"2023-11-03T07:56:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/cathie-wood-bets-on-bitcoin-over-gold-as-deflation-hedge\/"},"modified":"2023-11-03T03:56:54","modified_gmt":"2023-11-03T07:56:54","slug":"cathie-wood-bets-on-bitcoin-over-gold-as-deflation-hedge","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80123","title":{"rendered":"Cathie Wood Bets on Bitcoin Over Gold as Deflation Hedge"},"content":{"rendered":"<div>\n<figure id=\"attachment_126628\" aria-describedby=\"caption-attachment-126628\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-126628\" class=\"wp-caption-text\">Source: Ark Invest \/ Instagram<\/figcaption><\/figure>\n<p>Cathie Wood has reiterated her confidence in Bitcoin as the go-to asset as hedge against deflation over the next decade. Wood picked Bitcoin over traditional safe havens like gold or cash.<\/p>\n<p>Wood believes that deflation is on the horizon, despite the markets\u2019 current focus on heightened inflation risks driven by emerging technologies and innovations.\n<\/p>\n<h2>Cathie Wood Picks Bitcoin for 10-Year Investment Over Gold and Cash<\/h2>\n<p>\nIn an interview with Bloomberg, Wood responded to a question about her preferred asset class for a 10-year investment horizon.<\/p>\n<p>Without hesitation, she expressed her support for Bitcoin, citing its unique qualities as a financial instrument.\n<\/p>\n<blockquote>\n<p>\u201cBitcoin, hands down. Bitcoin is a hedge against both inflation and deflation because there\u2019s no counterparty risk, and institutions are barely involved.\u201d<\/p>\n<\/blockquote>\n<p>\nWood referred to Bitcoin as \u201cdigital gold,\u201d emphasizing hits utility in a variety of economic conditions.<\/p>\n<p>Cathie Wood has long been an optimistic advocate for cryptocurrencies, foreseeing their symbiotic relationship with emerging technologies and innovations.<\/p>\n<p>She has previously forecasted that the price of Bitcoin could surpass $1 million within the next decade. Currently, the market value of the leading cryptocurrency is around $35,000, which is roughly half its peak value in 2021.\n<\/p>\n<h2>Ark Invest Looking to Benefit from Spot Bitcoin ETF<\/h2>\n<p>\nRecent rallies in the token are attributed to growing expectations that the U.S. Securities and Exchange Commission (SEC) might approve exchange-traded funds (ETFs) directly investing in Bitcoin.<\/p>\n<p>Cathie Wood\u2019s firm, ARK Investment Management, is well-positioned to benefit from potential ETF approvals, as they have applied for a Bitcoin ETF alongside 21Shares and invested in the Grayscale Bitcoin Trust.<\/p>\n<p>Wood\u2019s ARK Next Generation Internet ETF, holding significant stakes in GBTC, has performed exceptionally well, posting returns of about 224% this year. This outperforms the approximately 114% rally in Bitcoin itself. ARK sold some of its GBTC holdings in the previous month.<\/p>\n<p>In her podcast appearance, Wood also touched upon the synergy between artificial intelligence (AI) and Bitcoin, predicting a convergence that would facilitate global microtasking and a division of labor in ways that are currently unimaginable.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/cathie-wood-bets-on-bitcoin-over-gold-and-cash-as-deflation-hedge.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Ark Invest \/ Instagram Cathie Wood has reiterated her confidence in Bitcoin as the go-to asset as hedge against deflation over the next decade. Wood picked Bitcoin over traditional safe havens like gold or cash. Wood believes that deflation is on the horizon, despite the markets\u2019 current focus on heightened inflation risks driven by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":80124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-80123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cathie Wood Bets on Bitcoin Over Gold as Deflation Hedge | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Ark Invest \/ Instagram Cathie Wood has reiterated her confidence in Bitcoin as the go-to asset as hedge against deflation over the next decade.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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