ARK Invest CEO Cathie Wood has set her sights on Bitcoin as the next viable, safe haven asset for investors. In a recent chat with ARK Chief Futurist Brett Winton, Wood pointed to Bitcoin’s resilience as one of the key reasons why she believes it can be classed as “digital gold.” With traders also rushing to back the Bitcoin Minetrix (BTCMTX) ICO, the crypto market could be witnessing a shift in sentiment. Cathie Wood Hints That BTC Could Be a Safe Haven Asset in Recent Interview Cathie Wood’s recent appearance on ARK Invest’s “In The Know” YouTube series gave further insight into her perspective on Bitcoin’s potential as a modern-day safe haven asset. When asked about the growing narrative of Bitcoin as “digital gold” by Brett Winton, Wood pointed to Bitcoin’s historical
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ARK Invest CEO Cathie Wood has set her sights on Bitcoin as the next viable, safe haven asset for investors.
In a recent chat with ARK Chief Futurist Brett Winton, Wood pointed to Bitcoin’s resilience as one of the key reasons why she believes it can be classed as “digital gold.”
With traders also rushing to back the Bitcoin Minetrix (BTCMTX) ICO, the crypto market could be witnessing a shift in sentiment.
Cathie Wood Hints That BTC Could Be a Safe Haven Asset in Recent Interview
Cathie Wood’s recent appearance on ARK Invest’s “In The Know” YouTube series gave further insight into her perspective on Bitcoin’s potential as a modern-day safe haven asset.
When asked about the growing narrative of Bitcoin as “digital gold” by Brett Winton, Wood pointed to Bitcoin’s historical price appreciation during times of broader market uncertainty.
Specifically, Wood highlighted Bitcoin’s performance during last year’s regional banks crisis, where the coin “shot up 40%” while markets were in turmoil.
As she noted, the ability of Bitcoin to act as a shelter from volatility could give it similar attributes to gold.
However, Wood also acknowledged Bitcoin’s higher volatility relative to traditional asset classes.
Overall, while Wood believes we are now seeing a “substitution into Bitcoin,” she remains cautious about going all-in on the coin.
Regardless, her reference to Bitcoin’s ability to weather market storms provides credibility to the view that it could be a safe-haven asset class for modern investors.
Bitcoin’s History as Potential Shelter from Market Volatility
While Cathie Wood’s recent comments point to a growing acknowledgment of Bitcoin’s potential as a store of value, the narrative of BTC as a safe haven asset has been building for years.
In 2020, researchers highlighted Bitcoin’s similarities to gold, focusing on the coin’s capped supply and its resistance to inflation.
A paper from Klein et al. in 2018 also hinted at Bitcoin’s safe haven status by highlighting the coin’s positive price performance during the stock market crash that accompanied the beginning of the COVID-19 pandemic.
Some crypto analysts have even suggested Bitcoin could be a superior version of gold in the digital era due to its easier transportability and divisibility.
These potential advantages have attracted institutional interest, with firms like AllianceBernstein noting Bitcoin’s strong returns during times of global crisis.
So, while Cathie Wood’s comments this week have brought more attention to Bitcoin’s potential as a safe haven asset, the foundations for this viewpoint have been in place for years.
Bitcoin Minetrix Brings in New Era of Crypto Mining & Raises $10.3m in Presale ICO
As interest in Bitcoin as a digital safe haven asset continues gaining steam, buzz is also building in the cryptocurrency presale space.
Bitcoin Minetrix, a platform offering no-hassle BTC mining rewards through a “Stake-to-Mine” model, has gained massive traction since the start of the project’s ICO.
Having already raised over $10.3 million from early backers, Bitcoin Minetrix seems poised to capitalize on the growth in the crypto-mining sector.
By allowing users to stake their BTCMTX tokens to earn Bitcoin without direct mining experience, Bitcoin Minetrix allows anyone to earn BTC rewards – regardless of their financial resources.
This aligns with the broader trend of simplifying crypto investing for mainstream audiences since the launch of spot Bitcoin ETFs in January.
As such, several prominent YouTubers have begun highlighting Bitcoin Minetrix in their videos, discussing the project in glowing terms.
For example, Connor Kenny released a video to his 178,000 subscribers discussing the project’s Stake-to-Mine feature and how it “mines BTC for you.”
Fellow YouTuber ClayBro also mentioned Bitcoin Minetrix in a recent video upload, stating it could be the “easiest way to mine Bitcoin.”
While volatility is likely to remain present in 2024, those searching for streamlined crypto-mining opportunities may find promise in Bitcoin Minetrix’s early success.
Visit Bitcoin Minetrix Presale
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