Bitcoin
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The head of ARK Invest, Cathy Wood, considers the first cryptocurrency to be the best form of protection against loss of wealth and an insurance policy for developing countries. She stated this in an interview with Yahoo Finance.
“Around the world, we are seeing hyperinflation as fiat currencies crash. All populations need a fallback — an insurance policy like bitcoin,” Wood said.
In her opinion, all segments of the population, both the poor and the wealthy, will benefit from the use of digital gold.
Regarding the latter, she pointed to the possibility of protecting wealth through bitcoin from confiscation in jurisdictions like China or Russia. The user can always restore access to the cryptocurrency using a seed phrase.
“Just keep that key in mind, and at some point you will be able to cross the border and reclaim your fortune,” Wood advised.
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Recall that the founder of ARK Invest predicted an increase in the capitalization of bitcoin to $4.5 trillion.
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