The recent turmoil in the banking industry shows that Bitcoin and ether. It can withstand a shaky economy, outperform other asset classes and perform like gold, says ARK Invest CEO Cathie Wood though one long-term investor is still off the hook.
Of all the metrics her technology-focused investment management firm is monitoring, Wood said in an April 15 interview, bitcoin’s resilience to the latest banking crisis is “the most remarkable.” She claims that Bitcoin and Ethereum are now acting as “safe-haven” assets and “safe havens” for investors amidst macroeconomic uncertainty: “They’re going to disrupt the traditional world order. What are bitcoin and ethereum doing? I mean, the fact that they’re being seen as a flight to safety like gold is really interesting and shows that there’s more adoption and acceptance than I think most people understand it much more broadly."
“We would say that there is a safe flight, led by crypto assets of course, that tells us that the world is shifting and will continue to shift. You can’t stop innovating,” she added.
Wood believes that when the industry is more widely accepted and the public can see more clearly that the U.S. government is exerting various regulatory pressures on the industry to maintain centralized control over money and monetary policy, cryptocurrency will eventually become an "election". question".
Not everyone agrees with Wood's views. Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund by assets under management, said in an interview on April 12 that bitcoin cannot be used as an "effective currency" because it is too volatile for central banks to adopt it. :
"Bitcoin is neither an efficient storehold of wealth nor a medium of exchange, so it's not an efficient currency. Its volatility has almost nothing to do with it...it's gold's very, very bad alternatives." “They can ban [Bitcoin]. They can regulate it. Central banks and countries almost don’t want it anyway,” he said, adding that the attention it’s getting is “disproportionate” to its size.Dalio strengthened his argument by pointing out that gold is the third-largest reserve held by central banks, behind the dollar and the euro.
Despite previously describing Bitcoin as “a fantastic invention,” Dalio recently explained that he would instead like to see an “inflation-linked” token created to ensure consumers gain purchasing power.
