Bitcoin as a “flight to safety” is a recurring theme in 2024 as multiple states deliberately devalue their currencies, says Cathie Wood.
In an interview with CNBC shared online on April 3, Wood described BTC as both a risk-on and risk-off investment.While institutions are finally getting some much-needed exposure to BTC, regular citizens are being presented with an even more important opportunity.“There are currency devaluations taking place that people are not talking about.”
In these cases and others, it was deliberate government interventions — not direct market forces — that decimated the exchange rate.“A hedge against devaluation, a hedge against a loss of purchasing power and wealth.” “I think this is an insurance policy against rogue regimes or against just horrible fiscal and monetary policies,” Wood concluded.As Cointelegraph continues to report, Wood has kept up public support of Bitcoin this year as ARK’s ETF product goes head-to-head with the world’s biggest asset managers.“I suspect this has to do with quarterly rebalancing flows,” popular trader Daan Crypto Trades commented in part of a response on X.
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