Cathie Wood, CEO of ARK Invest, recently spoke with Bloomberg about her bullish stance on Bitcoin (BTC). Wood believes that significant political and regulatory changes could push the cryptocurrency’s price to unprecedented heights. She points to the election of Donald Trump as one potential catalyst for such changes.
One area where Wood expects to see changes under the Trump administration is the Federal Trade Commission (FTC). According to Wood, alterations at the FTC could revitalize merger-and-acquisition activity, leading to what she calls “liquidity events.” These events would involve strategic buyers evaluating and bidding on innovative companies, potentially driving up prices across various sectors.
In addition to these regulatory factors, Wood also attributes Bitcoin’s recent price rally to its inherent scarcity. With a maximum supply of 21 million coins, Bitcoin’s scarcity increases as its price goes up, making it even more valuable. Wood goes on to compare Bitcoin to gold, noting that while gold prices can rise due to increased demand leading to higher production rates, there is no such correlation for Bitcoin due to its fixed supply.
Despite facing criticism for her high-risk investment strategy, particularly in emerging technologies like Bitcoin, Wood remains confident in her approach. Her ARK Innovation exchange-traded fund (ETF), valued at $6.7 billion, has experienced significant volatility but has also generated impressive returns for investors who share her vision for the future.
Wood also expressed support for another ambitious entrepreneur, Elon Musk, whose latest endeavor involves streamlining government operations through his Department of Government Efficiency (DOGE). According to Wood, Musk’s firsthand experience navigating regulatory hurdles makes him uniquely qualified to bring about meaningful change in government structures.
Source
As per reported by www.bitcoininsider.org
