{"id":544827,"date":"2023-07-28T12:00:45","date_gmt":"2023-07-28T12:00:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=544827"},"modified":"2024-06-11T08:10:13","modified_gmt":"2024-06-11T08:10:13","slug":"bitcoin-set-to-accelerate-as-store-of-value","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-set-to-accelerate-as-store-of-value\/","title":{"rendered":"Bitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood"},"content":{"rendered":"

ARK Invest CEO and crypto proponent <\/span>Cathie Wood<\/span><\/a> says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. She believes that Bitcoin\u2019s stability and a huge rally in the wake of US regional banks collapsing is a major testament to the fact that Bitcoin is the future of money.<\/span><\/p>\n

Cathie Wood Remains Bullish On Bitcoin<\/h2>\n

In a recent <\/span>interview<\/span><\/a> with Barron’s, Wood maintained that she remains bullish on digital assets and highlighted three reasons she won\u2019t be backing down on her investments. According to her, Bitcoin stood tall and rose by 60%, from $19,000 to $30,000, when regional banks like First Republic, SVB, and Signature Bank collapsed. She attributed this run to investors seeing the asset as a safe alternative for storing their wealth.\u00a0<\/span><\/p>\n

Related Reading: European Central Bank Follows US Fed\u2019s Footsteps With 25 BPS Hike<\/a><\/div>\n

Wood explained:<\/span><\/p>\n

We see three revolutions taking place because of crypto. Bitcoin will dominate the first one, the money revolution. The biggest proof is that when regional-bank stocks were falling apart earlier this year, Bitcoin went from $19,000 to $30,000. That was a flight to safety, and we expect it to accelerate. The centralized monetary system we have today is an aberration. We could be going back to the future \u2013 before the Federal Reserve existed \u2013 under a digital, rules-based monetary system with no government oversight.<\/span><\/p><\/blockquote>\n

The other reasons for her bullishness on digital assets relate to <\/span>decentralized finance (DeFi)<\/span><\/a> and digital property rights involving tokenizing several physical assets in real estate and other relevant industries.\u00a0<\/span><\/p>\n

\u201cThe second revolution is in financial services, or the so-called DeFi, which will be Ethereum-based. There are a number of infrastructure providers out there. It\u2019s the survival of the fittest, and I\u2019m excited to see who wins,\u201d the CEO said.<\/span><\/p>\n

Last but not least, according to Woord, \u201cis digital property rights, or what many call NFT or the metaverse. People are already buying real estate in virtual worlds. Our young research associates come into the office wearing jeans and T-shirts with no logos, but they are getting their status in the virtual world.\u201d<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC bulls struggle to keep bears at bay | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Weighing In On Coinbase\u2019s Battle With SEC<\/h2>\n
During the interview, Cathie Wood also discussed Coinbase\u2019s ongoing battle with the United States Securities and Exchange Commission (SEC). Wood\u2019s ARK holdings are one of the largest holders of Coinbase\u2019s stock. She believes that the crypto exchange will ultimately get victory in the SEC\u2019s lawsuit against it for the sale of unregistered securities.\u00a0<\/span><\/p>\n
According to her, the court will rule that the SEC has gone beyond its regulatory purview, and in the long run, the US Congress will pass crypto-friendly bills.\u00a0<\/span><\/p>\n
\u201cMeanwhile, the legislative branch has awakened to the fact that crypto is a new asset class and we might need new legislatures to give the regulators some guidance,\u201d the ARK Invest CEO added.<\/span><\/p>\n
Related Reading: Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders<\/a><\/div>\n
\u201cThose two branches of government have given us great confidence that Coinbase will come out of this as a winner. Many Coinbase competitors either haven\u2019t entered the US or moved out because of our regulatory system. Coinbase has stayed to fight. We think they\u2019ll be rewarded accordingly.\u201d<\/span><\/p>\n
Cathie Wood\u2019s ARK had <\/span>bought $21.6 million worth of Coinbase\u2019s stock<\/span><\/a> in early June, just immediately after the SEC filed a lawsuit against the crypto exchange.<\/span><\/p>\n
Featured image from ETF Stream, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
ARK Invest CEO and crypto proponent Cathie Wood says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. She believes that Bitcoin\u2019s stability and a huge rally in the wake of US regional banks collapsing is a major testament to the fact that Bitcoin is the future of money. Cathie Wood Remains Bullish On Bitcoin In a recent interview with Barron’s, Wood maintained that she remains bullish on digital assets and highlighted three reasons she won\u2019t be backing down on her investments. According to her, Bitcoin stood tall and rose by 60%, from $19,000 to $30,000, when regional banks like First Republic, SVB, and Signature Bank collapsed. She attributed this run to investors seeing the asset as a safe alternative for storing their wealth.\u00a0 Related Reading: European Central Bank Follows US Fed\u2019s Footsteps With 25 BPS Hike Wood explained: We see three revolutions taking place because of crypto. Bitcoin will dominate the first one, the money revolution. The biggest proof is that when regional-bank stocks were falling apart earlier this year, Bitcoin went from $19,000 to $30,000. That was a flight to safety, and we expect it to accelerate. The centralized monetary system we have today is an aberration. We could be going back to the future \u2013 before the Federal Reserve existed \u2013 under a digital, rules-based monetary system with no government oversight. The other reasons for her bullishness on digital assets relate to decentralized finance (DeFi) and digital property rights involving tokenizing several physical assets in real estate and other relevant industries.\u00a0 \u201cThe second revolution is in financial services, or the so-called DeFi, which will be Ethereum-based. There are a number of infrastructure providers out there. It\u2019s the survival of the fittest, and I\u2019m excited to see who wins,\u201d the CEO said. Last but not least, according to Woord, \u201cis digital property rights, or what many call NFT or the metaverse. People are already buying real estate in virtual worlds. Our young research associates come into the office wearing jeans and T-shirts with no logos, but they are getting their status in the virtual world.\u201d BTC bulls struggle to keep bears at bay | Source: BTCUSD on Tradingview.com Weighing In On Coinbase\u2019s Battle With SEC During the interview, Cathie Wood also discussed Coinbase\u2019s ongoing battle with the United States Securities and Exchange Commission (SEC). Wood\u2019s ARK holdings are one of the largest holders of Coinbase\u2019s stock. She believes that the crypto exchange will ultimately get victory in the SEC\u2019s lawsuit against it for the sale of unregistered securities.\u00a0 According to her, the court will rule that the SEC has gone beyond its regulatory purview, and in the long run, the US Congress will pass crypto-friendly bills.\u00a0 \u201cMeanwhile, the legislative branch has awakened to the fact that crypto is a new asset class and we might need new legislatures to give the regulators some guidance,\u201d the ARK Invest CEO added. Related Reading: Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders \u201cThose two branches of government have given us great confidence that Coinbase will come out of this as a winner. Many Coinbase competitors either haven\u2019t entered the US or moved out because of our regulatory system. Coinbase has stayed to fight. We think they\u2019ll be rewarded accordingly.\u201d Cathie Wood\u2019s ARK had bought $21.6 million worth of Coinbase\u2019s stock in early June, just immediately after the SEC filed a lawsuit against the crypto exchange. Featured image from ETF Stream, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":544843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8861,428,1119,55016,1393],"class_list":["post-544827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ark-invest","tag-bitcoin","tag-btc","tag-cathie-wood","tag-coinbase"],"acf":[],"yoast_head":"\nBitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood<\/title>\n<meta name=\"description\" content=\"ARK Invest CEO and crypto proponent Cathie Wood says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. 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