ARKInvest’s Cathie Wood offers her thank you to Hal Finney on the social media platform X. Check out the latest details about what she wrote below.
Cathie Wood on Hal Finney
Here is the post that she shared on her X account:
Thank you, Hal Finney, for your important role in transforming the financial world. @ARKInvest must have been moved in part by your spirit as we penned our first #bitcoin blog in 2014 and our first white paper, Bitcoin: A Disruptive Currency, in 2015. https://t.co/ZyqkZizg7i
— Cathie Wood (@CathieDWood) January 13, 2024
Wood also addressed spot BTC ETF
ARKInvest’s Cathie Wood talks about Bitcoin, spot BTC ETFs, and their benefits. Check out the details about what she had to say below.
She said that “Gold was not the only commodity to soar after regulators approved the gold ETF.
In fact, gold underperformed many other commodities. The Fed stoked broad based commodity price inflation by easing aggressively in response to the implosion of Long Term Capital Management in 1998.”
She continued and explained that unlike money center and regional banks a la 2008, bitcoin—a global, decentralized, transparent, private, rules-based monetary ecosystem—is not subject to counterparty risk. Last year in March, we learned that bitcoin is unique: not only a risk-on asset but also a risk-off asset.
In @ARKInvest’s view, Spot Bitcoin ETFs could be a hedge against inflation but are more likely to be a hedge against price deflation and counter-party risk, not only because the Fed has made mistakes but also because China has compounded the problem and is exporting deflation.
— Cathie Wood (@CathieDWood) January 14, 2024
Not too long ago, we also revealed the fact that in an interview with CNBC Squawk Box, Wood stated that ARK Invest’s bullish prediction of Bitcoin reaching $1.5 million by 2030 is now more probable due to the approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) on Wednesday.
