ARK’s Cathie Wood Says Bitcoin Looking ‘As Good as it Gets,’ On-Chain Metrics Looking Like a Bull Market – Crypto News – Crypto News
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One Metric Hinting at Opportune Time To Accumulate Bitcoin (BTC) and Altcoins: Santiment One Metric Hinting at Opportune Time To Accumulate Bitcoin (BTC) and Altcoins: Santiment

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ARK’s Cathie Wood Says Bitcoin Looking ‘As Good as it Gets,’ On-Chain Metrics Looking Like a Bull Market – Crypto News

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2 years ago

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ARK Invest CEO Cathie Wood says that key metrics are confirming that Bitcoin (BTC) is in a true bull market.

In a new CNBC interview, Wood says that the health of Bitcoin’s network is strong as the digital asset proves itself as a safe store of value for investors.

“The health of the network is almost as good as it gets. And it seems like this is a bull market. Sure, we’ll have puts and takes. Nothing goes straight up. But I think there’s a flight to quality. [BlackRock CEO] Larry Fink used that expression. We call it a flight to safety.

You look at what happened during the regional bank crisis, Bitcoin went from $19,000 to nearly $30,000 as the KRE, the regional bank stock index was imploding. If you look at the bank stock index today, it is back down close to where it was in March. Larry might say flight to quality, which is good. It’s true. We would say flight to safety because there’s no counter-party risk in Bitcoin.”

Wood also says that she believes holding Bitcoin itself will deliver higher returns than investing in exchange-traded funds (ETFs) related to equities connected to Bitcoin. However, she also says there are likely digital asset-related equities that could yield massive gains as well, including companies that create digital wallets.

“We believe Bitcoin will be the better performer longer term. But this is a diversified exposure through equities. We’re trying to find the company that is going to produce the digital wallet. That will be a very important position. Is it Coinbase? Is it Square with Cash App?”

Bitcoin is trading for $36,256 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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