Bitcoin’s popularity is on the rise in 2021 after a booming 2020 during which the coin basically exploded, showing its true colours to the whole world.
In a scenery in which the economy has been falling due to the global crisis that has been triggered a year ago by the novel coronavirus, and in a time when the money printing spree seems neverending, Bitcoin continues to shine and attracts more investors these days.
Bitcoin is the ideal hedge against inflation
It’s been just reported that the Star fund managed Cathie Wood just touted Bitcoin’s strength as a hedge against inflation.
The Daily Hodl notes that there there’s a new interview with Yahoo Finance, in which the CEO of ARK Invest says she expects BTC to continue to outperform gold.
“I believe there is no better hedge against inflation than Bitcoin. As we know, gold has been moving, although now it’s lagging Bitcoin fairly dramatically so there’s probably some share shift, but I do believe that both of them will do well over time.”
Woods also made sure to point out the fact that she expects Bitcoin’s adoption among institutional investors and major companies to rise.
“I think we’re going to hear about more companies putting this hedge on their balance sheet as well particularly tech companies who understand the technology and are comfortable with it.”
Bitcoin is expecting more institutional investors
She’s not the only one who foresees this bright future for Bitcoin as more important names said that BTC would shine in 2021 like never before and institutional investors will come flooding the crypto space.
Woods also made sure to point out the fact that Bitcoin is relatively fast recovering following the bear market that kicked off in 2018.
Check out more about what she had to say in the original article.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $31,746.84.