Bitcoin

April

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cathie-wood-advocates-bitcoin-as-haven-against-currency-devaluation" rel="noopener noreferrer nofollow">Cathie Wood Advocates Bitcoin as Haven Against Currency Devaluation</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/grayscales-market-moves-and-bitcoins-stability-amid-genesis-asset-sale" rel="noopener noreferrer nofollow">Bitcoin</a> is gaining momentum as a leader in the <a href="https://en.bitcoinhaber.net/bitcoin-sees-sharp-decline-as-regulatory-concerns-shake-market-confidence" rel="noopener noreferrer nofollow">cryptocurrency</a> market, with ARK Invest CEO Cathie Wood advocating it as a dependable investment in the face of fiat currency depreciation. In an interview on April 3rd, Wood characterized Bitcoin as a multifaceted asset, serving both as a risky investment and a shelter from financial uncertainty.</p>
<h2 id="bitcoin-gains-institutional-interest">Bitcoin Gains Institutional Interest</h2>
<p style="text-align: justify">Cathie Wood has highlighted the emergence of institutional interest in Bitcoin, emphasizing its importance for the general population. Wood pointed out the ongoing devaluations of various national currencies, such as the Nigerian naira and the Egyptian pound, which have seen their values halving against the US dollar due to government intervention rather than market forces.</p>
<p style="text-align: justify">Wood expressed her belief in Bitcoin as a “safe escape” from these devaluations, offering protection against the erosion of purchasing power and wealth. Additionally, she referenced the US regional banking crisis and the 2013 Greek financial crisis as events that have historically supported the rise in Bitcoin’s value.</p>
<h2 id="shifts-in-the-etf-landscape">Shifts in the ETF Landscape</h2>
<p style="text-align: justify">Despite ARK’s ETF facing competition from the world’s largest asset managers and experiencing unusual net outflows of about $90 million this week, Wood continues to publicly back Bitcoin. The outflow from ARK’s ETF was noted as significant compared to the $130 million outflows from the Grayscale Bitcoin Trust. Wood remains confident in Bitcoin’s future price, predicting it could reach $1 million by 2030, driven by new institutional investments and a market not yet fully tapped.</p>
<h3 id="points-to-take-into-account">Points to take into account</h3>
<ul>
 <li>Wood identifies Bitcoin as a hedge against currency devaluation and poor fiscal policies.</li>
 <li>Institutional interest in Bitcoin is marked as a noteworthy development for ordinary investors.</li>
 <li>Recent outflows from ETFs such as ARK’s may be attributed to periodic rebalancing rather than a loss of investor confidence.</li>
 <li>A future surge in Bitcoin value could be propelled by institutional cash flows yet to enter the market.</li>
</ul>
<p style="text-align: justify">Cathie Wood’s statements and ARK’s ETF dynamics signify a notable shift in the perception of Bitcoin, not just as a digital asset but also as a strategic financial tool against global economic pressures.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cathie-wood-advocates-bitcoin-as-haven-against-currency-devaluation" rel="noopener noreferrer nofollow">Cathie Wood Advocates Bitcoin as Haven Against Currency Devaluation</a></h5>

Cathie Wood Advocates Bitcoin as Haven Against Currency Devaluation

Table of Contents

BH NEWS

Other articles published on Apr 3, 2024

Van Eck heir to launch new USD stablecoin with $12M VC backing

Frax Finance and Noble’s Alliance: A New Era in DeFi with Cosmos Integration

Here is Why You Need to be Bullish on Solana: A Fresh Bullish Spell Could Trigger a 30% Jump

Solana Price Prediction: SOL Climbs 3% As Traders Flock To This SOL Meme Coin For Its $1M Airdrop...

Trader Says This Altcoin One of His ‘Big Bets’ for Crypto Bull Run

XRP Price Near Crucial Juncture, Can Bulls Take A Stand?

Join our free newsletter for daily crypto updates!