Bitcoin is competing for the gold market! Cathie Wood, founder and CEO of ARK Investment Management, said in an interview that she believes one Bitcoin may one day be worth $1 million, but not anytime soon. Gold is a multi-trillion dollar asset and one does believe that Bitcoin will benefit greatly from it. Cathie Wood, explaining how Bitcoin reached a price of $1 million per coin, said that the comparison is not only about value, but also about the fundamental role that Bitcoin can play as a decentralized, private alternative to traditional currencies. Furthermore, Bitcoin plays a vital role in emerging markets as a hedge against unstable monetary and fiscal policies by individuals and institutions, and most emerging markets will use something like Bitcoin as insurance. Wood believes that Bitcoin represents a new era of finance—the first global, digital, and decentralized monetary system. This is a breakthrough development.