There are no significant opportunities without a severe crisis. According to Cathie Wood, the current crises present possibilities for investment.
Following a string of scandalous events that rocked the overall market, the founder and CEO of Ark Investment Management took part in a virtual press conference with Bloomberg on Wednesday. There, she revealed her opinions on the electronic currency.
Cathie Wood says Bitcoin to the Moon
Wood has unwavering faith in cryptocurrency despite the worsening market circumstances.
Given that Ethereum’s total value staked and Bitcoin’s hash rate both reached record highs earlier this month, the reputable investor declared that
“the infrastructure is performing well.”
In and of itself, the crisis is damaging. But with ruin can come amazing chances. To observe the victors first, Wood continued,
“Sometimes you need to fight trials, you must go through difficulties.”
The founder of Ark Invest anticipated that Bitcoin would increase to $1 million.
Wood forecasted in 2017 that in the following five years, the price of bitcoin will reach $500,000. Investor strongly supports bitcoin, even though the market collapse caused the biggest cryptocurrency in the universe to decline by 65% this year.
A Financial Force
Cathie Wood began her career in finance at Capital Corporation as an assistant economist. Wood rose to prominence in the finance world over the ensuing years, especially following her profitable “bet” on Tesla.
Her financial strategy is centered on finding investments that would flourish in the years ahead, which she discovered in bitcoin.
A recent purchase of 176,945 shares in Grayscale’s Bitcoin Trust (GBTC) fund was made by the company on November 15 & November 22, 2022, according to Ark’s most recent revisions of the investment portfolio. Almost 6.357 million GBTC financial assets are currently held by Wood’s company, which represents 0.4% of the organization’s total interests.
The current market value of the company’s GBTCs is estimated to be $55 million. Grayscale is thought to be the second-largest bitcoin collector in the world, and even if its company Genesis, despite having $175 million stuck on the FTX exchange, failed, the business would not batin risk.
In terms of global bitcoin holdings, Grayscale is ranked second.
A lack of trust in the cryptocurrency industry was caused by FTX’s descent into hell. After the crash, a large number of investors left. In the face of the wind, hope holds strong like a candle. But Wood isn’t the only person who continues to be optimistic about the future of cryptocurrency
Buy The Bear Market
In a recent working paper, a Harvard Ph.D. alum makes the case that central banks should use bitcoin to mitigate the dangers associated with economic warfare and sanctions.
Government agencies and central banks are being urged by Mathew Ferranti, the author of the paper “Hedging Sanctions Risk: Crypto in Central Bank Reserves,” to include digital tokens in their reverses.
Ferranti backed the idea that the largest cryptocurrency provides a method for nations facing the threat of economic war to comprehend.
The report quickly generated a commotion among Bitcoin fans. Since the war between Russia and Ukraine, transactions using bitcoin have made headlines.
Russia’s Central Bank and the Ministry of Finance declared that they will partially move to use cryptocurrency to assist cross-border transactions as a result of heavy penalties from Western forces.
However, the researchers warned that if we placed an excessive emphasis on digital assets, it might provide a challenge. The US authorities asked Binance, Coinbase, and Gemini to reveal any transactions involving blacklisted Russian persons or businesses in March.
El Salvador’s financial position is close to 3,000 BTC. The Central American nation is under a lot of punishments from the US. Tough penalties have been imposed on individuals and organizations in the nation.
Whenever it comes to the potential for the development of cryptocurrencies in West Asia, the UAE is in the lead.
It frequently announces agreements with institutions, demonstrating its desire to establish Dubai as a major Bitcoin business and investment destination.
In actuality, the majority of nations place their trust in gold rather than Bitcoin. But based on the study, purchasing both assets and reaping the benefits of diversity would be the best way to employ them.
With Bitcoin, things will be simpler, more modern, and perhaps profitable. You’ll feel more secure in gold because it is five times less unstable than bitcoin.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.