Cathie Wood, CEO of ARK Invest, said she and her fund are now more confident in BTC’s bull market, worth $1.5 million by 2030.
Cathie Wood said Bitcoinrose from $19,000 to $30,000 as regional banks went bankrupt and stocks plummeted across the board.
The rally marks a flight to safety, which is what everyone ultimately hopes for, as Bitcoin protects against both direct and indirect seizure of wealth.
Direct confiscation refers to the theft of personal property by force, while indirect confiscation refers to inflation, especially the inflation of the money supply to astronomical figures through the issuance of additional currency.
Bitcoin’s supply is programmatically limited to 21 million units, so this form of inflation is impossible.
However, even in a fiat deflationary environment, Bitcoin provides a hedge against counterparty risk. Bitcoin will not appear in 2008 and 2009.