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The CEO of ARK Invest called bitcoin a good store of value and the best protection against the depreciation of government currencies in developing countries.
Catherine Wood, in an interview with Yahoo Finance, noted that hyperinflation is happening all over the world, so bitcoin can become a safe haven for both the poor and the rich. Wood recalled that the supply of Bitcoin is limited to 21 million coins, which makes the first cryptocurrency immune to depreciation, as is usually the case when printing money with fiat currencies.
Even if users store BTC in a hardware wallet, they can technically restore access to crypto assets from anywhere in the world, and this is an important advantage of bitcoin, the head of ARK Invest reasoned. You just need to remember a unique seed phrase consisting of 12-24 random words:
“Just keep this phrase in mind, and you can return your accumulated wealth even if you cross the border of another state.”
In November, after a long pause, ARK Invest acquired Bitcoin Trust Grayscale shares for $2.8 million, thereby expressing confidence in the positive dynamics of the cryptocurrency market. A few months ago, Katherine Wood made a very optimistic forecast that the capitalization of Bitcoin could rise to $4.5 trillion.
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