- Cathie Wood highlighted the approval of 11 ETFs, promoting mainstream acceptance of Bitcoin.
- Wood predicted demand for Bitcoin would rise amid concerns about interest rates and global stability.
While Bitcoin falls slightly, [BTC] It fell 0.84% in the past 24 hours to $65,494.96, but the optimism of various Bitcoin extremists regarding Bitcoin's future trajectory remained unchanged.
Adding to the fray, Ark Invest founder and CEO Cathie Wood said in a recent conversation with Anthony Pompliano at Bitcoin Investor Day in New York: Revealed how Bitcoin reached $1.5 million.
Recognize the incredible energy surrounding the simultaneous approval of 11 ETFs, a first in the financial world. She pointed out:
“This is just the beginning of a completely new asset class, so we think we are providing a great service to Bitcoin and digital assets in general.”
Macro factors influencing Bitcoin price
Wood also attributed Bitcoin's current price movements to increased demand driven not only by ETF investments but also by macroeconomic factors.
Reflecting on recent Fed interest rates, Wood emphasized that concerns about interest rates, inflation, and global economic stability are causing investors to flee to Bitcoin as a hedge.
She pointed out:
“We're paying very close attention to what's going on in emerging markets right now. Over time, the Fed raising interest rates 24 times in just over a year has been a huge shock to the financial system. I think more people will be able to understand that.”
Is Bitcoin’s long-term trajectory optimistic?
Further emphasizing the dual nature of Bitcoin, the Ark Invest CEO added:
“While many people think of Bitcoin as a risk-on asset, and it has certainly traded as such over time, we have seen Bitcoin as both risk-on and risk-off. .”
She further added:
“Last year’s local banking crisis seemed to confirm the view that Bitcoin more than doubled as local banks were collapsing.”
This confirms the growing interest and confidence in Bitcoin among institutional investors and traditional financial institutions.
In conclusion, despite short-term market fluctuations, Wood remained optimistic about Bitcoin's long-term trajectory.
As we learn more about its underlying technology and potential, she sees Bitcoin as a transformative force in global finance.In particular, it may reach $1.5 million Or even further into the future.
