ARK CEO Cathie Wood Foresees Bitcoin as Ultimate Hedge Against Inflation and Deflation, Predicts Value to Exceed $1 Million by 2030

Despite skepticism and recent crypto fraud case, the ARK chief reaffirms Bitcoin as a "digital gold," withstanding both economic scenarios and a potential 4,250% price jump by 2030.

Cathie Wood, the CEO of Ark Invest, maintains that digital assets such as Bitcoin will hold their value even during periods of economic unsteadiness due to inflation or deflation. This defiance against traditional economic downturns positions Bitcoin as a 'digital gold'.
Despite recent crypto scams such as the 'Crypto King' Sam Bankman-Fried's fraud case, Wood continues to assert Bitcoin's credibility and its potential as an investment. She believes in the transparency and decentralized network of Bitcoin that reduces counterparty risk.
Cathie Wood's firm, ARK Investment Management, predicts Bitcoin will rise to a value of $1.48 million by the year 2030. That value represents over a 4,250% increase from Bitcoin's current value - further exemplifying Wood's faith in the asset.
In a changing financial landscape, Wood believes younger generations and institutions show a preference over holding Bitcoin, over traditional assets such as gold, espousing that Bitcoin has potential for growth, while gold has reached its peak demand.
Despite strong criticism from financial figures like Warren Buffet and JPMorgan’s CEO, Jamie Dimon, who both regard Bitcoin as a worthless or fraudulent asset, Wood and her company maintain their support and investments in Bitcoin, citing the currency's artificial intelligence and blockchain innovations.

Fortune

Benzinga