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In the rapidly evolving cryptocurrency industry, everyone wants to know how digital currencies will behave in times of inflation and deflation. Recently, on Bloomberg’s Merryn Talks Money Podcast, the CEO and founder of ARK Investment captured everyone’s attention as she mentioned a cryptocurrency with the potential to hedge against inflation. Wood’s view on Bitcoin as a hedge against inflation and deflation 
Cathie Wood the head of ARK Investment Management has reiterated her view that Bitcoin is a perfect asset as a hedge against deflation in the next decade. Since 2021, Wood has picked a new era of safe assets Bitcoin over traditional safe assets like Gold or cash.&nbsp;
Wood as well as analysts believe that deflation is on the horizon, even though most people are currently worried about rising inflation due to new technologies and innovations.
In a recentBloomberg podcast, when asked about her favorite investment for the next 10 years, Wood quickly advocated Bitcoin, highlighting its special financial features. Wood said: 
“Bitcoin, hands down. Bitcoin is a hedge against both inflation and deflation because there’s no counterparty risk, and institutions are barely involved.”
Along with this wood also referred to as Bitcoin a new era of “Digital Gold,” while highlighting its utility in a variety of economic conditions.
Also Read: <a href="https://news.todayq.com/ark-invest-and-21shares-collaborate-to-file-for-ethereum-futures-etfs/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares collaborate to file for Ethereum Futures ETFs</a> Bitcoin price predictions and positive market sentiment 
This is not the first time Wood has advocated Bitcoin, it has been observed that she is very positive about cryptocurrency, believing it will thrive alongside advancements in technology. Earlier this year, Wood forecasted that Bitcoin’s price would surpass $1 million in the next decade. As of writing, Bitcoin is trading near $35,000 and also made a <a href="https://news.todayq.com/bitcoin-hits-a-52-week-high-as-blackrocks-etf-approval-buzz/" rel="noopener noreferrer nofollow">52-week high</a>.
Overall, the sentiment of the crypto market is positive, as the <a href="https://news.todayq.com/blackrock-inches-closer-to-sec-approval-as-bitcoin-etf-gets-listed-on-nasdaq-trade-clearing-firm/" rel="noopener noreferrer nofollow">potential approval of spot Bitcoin ETF</a>, and acceptance and adoption of cryptocurrency are significantly surging. Several giant asset management firms also support crypto as they know the true value of crypto in the upcoming decade.&nbsp; ARK investment’s involvement in Cryptocurrency 
Wood’s firm, ARK Investment Management has also applied for a Bitcoin ETF alongside 21Shares and invested in the Grayscale Bitcoin Trust. In November, her ARK Next Generation Internet ETF bought GBTC at a 40% discount, and it’s now the largest holding, with a 224% return this year, compared to Bitcoin’s 114% increase. ARK also sold some of its GBTC holdings last month.
© Todayq News

Cathie Wood’s Ark Invest bullish on Bitcoin amid potential Bitcoin ETF approval

Todayq News

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