CoinDesk reports that during a fireside chat at the Friday Bitcoin Investor Day conference in New York, Cathie Wood, the CEO of Ark Invest, described bitcoin as a 'financial superhighway.' She highlighted its significant utility in emerging markets, such as Nigeria, where the local currency's steep depreciation has driven adoption. Wood views bitcoin as both a risk-off and risk-on asset, emphasizing its role in global macroeconomic environments. Ark Invest, now an issuer of the spot bitcoin exchange-traded fund (ETF) ARKB, focuses on emerging markets. Wood highlighted the global concern sparked by the U.S. Federal Reserve's interest rate hike, underscoring the ETF's success among the ten issued in January. Wood also speculated on bitcoin's potential to surpass $3.5 million in price, citing increased institutional involvement, but refrained from providing a specific target, reiterating her previous $1.5 million prediction.

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