"Wood Sister" Warns Again about the Risk of Deflation, Advocates Bitcoin as the Best Hedging Tool
Founder of Ark Investment Management, Kathy Wood, stated in an interview on Thursday that she will definitely bet on Bitcoin, rather than gold or cash, to prevent potential deflation in the next decade.Wood reiterated her view that with the support of new technologies such as artificial intelligence, electric vehicles, robotics, genome sequencing, and blockchain, she is expected to usher in an era of price decline
Founder of Ark Investment Management, Kathy Wood, stated in an interview on Thursday that she will definitely bet on Bitcoin, rather than gold or cash, to prevent potential deflation in the next decade.
Wood reiterated her view that with the support of new technologies such as artificial intelligence, electric vehicles, robotics, genome sequencing, and blockchain, she is expected to usher in an era of price decline. She has been holding this view since 2021, despite the market's focus on a new era of heightened inflation risks.
When asked which of the three asset classes she would choose to hold for 10 years, Wood said, "Bitcoin, there is no doubt. Bitcoin can hedge against inflation and deflation because it does not have counterparty risk and institutions are hardly involved." She said, this is "digital gold".
Wood has always been one of the largest bulls in Bitcoin, as she expects it to benefit from broader growth in new technologies and innovation. She had previously predicted that the price of Bitcoin would exceed $1 million in the next decade. The current price of Bitcoin is around $35000, approximately half of its peak in 2021.
Wood stated in an interview on Thursday that she also looks forward to the integration between artificial intelligence and Bitcoin. This will "achieve global micro tasks and division of labor in a way that we cannot even imagine now
This article originates from the financial industry
Tag: the Wood Sister Warns Again about Risk of Deflation
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.
