Cathie Wood Predicts Long-Term Growth for Bitcoin Despite Dollar Strength

Cathie Wood, CEO of Ark Invest, has predicted that Bitcoin's long-term growth will continue despite the strength of the dollar. She explained that Bitcoin could attract institutional investors' demand for diversification as a new asset class. In an interview with Sampro TV on the 19th, CEO Wood emphasized that Bitcoin represents a new asset class and has a low correlation with gold. She disagreed with the notion that the investment demand for Bitcoin and gold can be solely explained by concerns over the dollar's value decline, stating that Bitcoin has its own growth drivers. CEO Wood noted that since institutional investors began showing interest in Bitcoin in 2019, the correlation coefficient between gold and Bitcoin has been around 0.1, indicating a low relationship. She added that investors tend to seek assets with low correlations when allocating their portfolios. The recent diverging price trends of gold and Bitcoin could also lead to institutional investors incorporating Bitcoin into their portfolios. She stated that Bitcoin is maintaining a long-term upward trend and predicted that institutional investors might gradually incorporate Bitcoin. However, she mentioned that she could not predict monthly price forecasts. Additionally, she presented the demand for asset preservation in emerging markets as a long-term growth factor for Bitcoin.

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