Cathie Wood Bets on Bitcoin Over Gold and Cash as Deflation Hedge for Next Decade
Cathie Wood, founder of Ark Invest, is betting on Bitcoin as a deflation hedge over gold and cash for the next decade. Wood believes that Bitcoin, along with other digital assets like Ethereum, is the best way to protect wealth against a deflationary world. She told CNBC that many technology companies are entering the cryptocurrency space, which is a positive sign for the long-term outlook of the digital currency. Wood also believes that with more companies like Tesla, Square and MicroStrategy adding Bitcoin to their balance sheet, it will provide more legitimacy and mainstream adoption. Wood believes that if there is a deflationary environment in the next decade, Bitcoin and select digital assets will be the best way to protect wealth against devaluation.