ARK Make investments CEO Cathie Wooden is doubling down on her prediction that king crypto Bitcoin (BTC) will hit seven figures.
Wooden says in a brand new Bloomberg interview that she stays assured that her $1 million goal for Bitcoin shall be realized.
In line with Wooden, the prevailing international financial setting is elevating her confidence within the flagship crypto asset.
“The extra uncertainty and volatility there’s within the international economies, the extra our confidence will increase in Bitcoin.
And one of many causes is we’ve simply been by means of an inflationary scare. We predict it was very a lot supply-chain pushed and Bitcoin was/is a hedge in opposition to inflation.”
The ARK Make investments CEO says {that a} deflationary macroeconomic setting is looming and Bitcoin could have one other function past appearing as a buffer in opposition to inflation.
“We additionally imagine now that the larger danger is deflation, not inflation. And why would Bitcoin do effectively in that circumstance? It might do effectively as a result of it’s an antidote to counterparty danger within the conventional monetary system.
On the Bitcoin blockchain, every little thing is clear and perhaps pseudo-anonymous. However we will see all of the transactions, the entire exercise, and subsequently, now we have a a lot better understanding of how little counterparty danger there’s within the blockchain world.”
Bitcoin is buying and selling at $26,678 at time of writing.
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