ARK Invest CEO, Cathie Wood, envisions a flourishing future for Bitcoin (BTC) and Ethereum (ETH) as they emerge as safe havens amidst economic uncertainty. On a recent episode of ARK Invest’s “In the Know” podcast, Wood compared the top two cryptocurrencies to gold, stating that their broader adoption indicates a significant shift in the financial landscape.
Despite their reputation for volatility, Wood argues that the perception of Bitcoin and Ethereum as secure assets during turbulent times reflects a growing confidence in their value. As traditional financial systems face disruption, people may increasingly turn to these cryptocurrencies. Bitcoin’s limited supply of 21 million units further strengthens its position as a store of value, with only two million units remaining to be mined.
Wood also praised the developers behind Bitcoin’s mathematical structure, expressing confidence in their commitment to maintaining its integrity. As global economic disruption continues, the adoption and acceptance of cryptocurrencies like Bitcoin and Ethereum are likely to expand, transforming the world economy in the process.