{"id":544827,"date":"2023-07-28T12:00:45","date_gmt":"2023-07-28T12:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=544827"},"modified":"2024-06-11T08:10:13","modified_gmt":"2024-06-11T08:10:13","slug":"bitcoin-set-to-accelerate-as-store-of-value","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-set-to-accelerate-as-store-of-value\/","title":{"rendered":"Bitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood"},"content":{"rendered":"

ARK Invest CEO and crypto proponent <\/span>Cathie Wood<\/span><\/a> says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. She believes that Bitcoin\u2019s stability and a huge rally in the wake of US regional banks collapsing is a major testament to the fact that Bitcoin is the future of money.<\/span><\/p>\n

Cathie Wood Remains Bullish On Bitcoin<\/h2>\n

In a recent <\/span>interview<\/span><\/a> with Barron’s, Wood maintained that she remains bullish on digital assets and highlighted three reasons she won\u2019t be backing down on her investments. According to her, Bitcoin stood tall and rose by 60%, from $19,000 to $30,000, when regional banks like First Republic, SVB, and Signature Bank collapsed. She attributed this run to investors seeing the asset as a safe alternative for storing their wealth.\u00a0<\/span><\/p>\n

Related Reading: European Central Bank Follows US Fed\u2019s Footsteps With 25 BPS Hike<\/a><\/div>\n

Wood explained:<\/span><\/p>\n

We see three revolutions taking place because of crypto. Bitcoin will dominate the first one, the money revolution. The biggest proof is that when regional-bank stocks were falling apart earlier this year, Bitcoin went from $19,000 to $30,000. That was a flight to safety, and we expect it to accelerate. The centralized monetary system we have today is an aberration. We could be going back to the future \u2013 before the Federal Reserve existed \u2013 under a digital, rules-based monetary system with no government oversight.<\/span><\/p><\/blockquote>\n

The other reasons for her bullishness on digital assets relate to <\/span>decentralized finance (DeFi)<\/span><\/a> and digital property rights involving tokenizing several physical assets in real estate and other relevant industries.\u00a0<\/span><\/p>\n

\u201cThe second revolution is in financial services, or the so-called DeFi, which will be Ethereum-based. There are a number of infrastructure providers out there. It\u2019s the survival of the fittest, and I\u2019m excited to see who wins,\u201d the CEO said.<\/span><\/p>\n

Last but not least, according to Woord, \u201cis digital property rights, or what many call NFT or the metaverse. People are already buying real estate in virtual worlds. Our young research associates come into the office wearing jeans and T-shirts with no logos, but they are getting their status in the virtual world.\u201d<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC bulls struggle to keep bears at bay | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Weighing In On Coinbase\u2019s Battle With SEC<\/h2>\n
During the interview, Cathie Wood also discussed Coinbase\u2019s ongoing battle with the United States Securities and Exchange Commission (SEC). Wood\u2019s ARK holdings are one of the largest holders of Coinbase\u2019s stock. She believes that the crypto exchange will ultimately get victory in the SEC\u2019s lawsuit against it for the sale of unregistered securities.\u00a0<\/span><\/p>\n
According to her, the court will rule that the SEC has gone beyond its regulatory purview, and in the long run, the US Congress will pass crypto-friendly bills.\u00a0<\/span><\/p>\n
\u201cMeanwhile, the legislative branch has awakened to the fact that crypto is a new asset class and we might need new legislatures to give the regulators some guidance,\u201d the ARK Invest CEO added.<\/span><\/p>\n
Related Reading: Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders<\/a><\/div>\n
\u201cThose two branches of government have given us great confidence that Coinbase will come out of this as a winner. Many Coinbase competitors either haven\u2019t entered the US or moved out because of our regulatory system. Coinbase has stayed to fight. We think they\u2019ll be rewarded accordingly.\u201d<\/span><\/p>\n
Cathie Wood\u2019s ARK had <\/span>bought $21.6 million worth of Coinbase\u2019s stock<\/span><\/a> in early June, just immediately after the SEC filed a lawsuit against the crypto exchange.<\/span><\/p>\n
Featured image from ETF Stream, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
ARK Invest CEO and crypto proponent Cathie Wood says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. She believes that Bitcoin\u2019s stability and a huge rally in the wake of US regional banks collapsing is a major testament to the fact that Bitcoin is the future of money. Cathie Wood Remains Bullish On Bitcoin In a recent interview with Barron’s, Wood maintained that she remains bullish on digital assets and highlighted three reasons she won\u2019t be backing down on her investments. According to her, Bitcoin stood tall and rose by 60%, from $19,000 to $30,000, when regional banks like First Republic, SVB, and Signature Bank collapsed. She attributed this run to investors seeing the asset as a safe alternative for storing their wealth.\u00a0 Related Reading: European Central Bank Follows US Fed\u2019s Footsteps With 25 BPS Hike Wood explained: We see three revolutions taking place because of crypto. Bitcoin will dominate the first one, the money revolution. The biggest proof is that when regional-bank stocks were falling apart earlier this year, Bitcoin went from $19,000 to $30,000. That was a flight to safety, and we expect it to accelerate. The centralized monetary system we have today is an aberration. We could be going back to the future \u2013 before the Federal Reserve existed \u2013 under a digital, rules-based monetary system with no government oversight. The other reasons for her bullishness on digital assets relate to decentralized finance (DeFi) and digital property rights involving tokenizing several physical assets in real estate and other relevant industries.\u00a0 \u201cThe second revolution is in financial services, or the so-called DeFi, which will be Ethereum-based. There are a number of infrastructure providers out there. It\u2019s the survival of the fittest, and I\u2019m excited to see who wins,\u201d the CEO said. Last but not least, according to Woord, \u201cis digital property rights, or what many call NFT or the metaverse. People are already buying real estate in virtual worlds. Our young research associates come into the office wearing jeans and T-shirts with no logos, but they are getting their status in the virtual world.\u201d BTC bulls struggle to keep bears at bay | Source: BTCUSD on Tradingview.com Weighing In On Coinbase\u2019s Battle With SEC During the interview, Cathie Wood also discussed Coinbase\u2019s ongoing battle with the United States Securities and Exchange Commission (SEC). Wood\u2019s ARK holdings are one of the largest holders of Coinbase\u2019s stock. She believes that the crypto exchange will ultimately get victory in the SEC\u2019s lawsuit against it for the sale of unregistered securities.\u00a0 According to her, the court will rule that the SEC has gone beyond its regulatory purview, and in the long run, the US Congress will pass crypto-friendly bills.\u00a0 \u201cMeanwhile, the legislative branch has awakened to the fact that crypto is a new asset class and we might need new legislatures to give the regulators some guidance,\u201d the ARK Invest CEO added. Related Reading: Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders \u201cThose two branches of government have given us great confidence that Coinbase will come out of this as a winner. Many Coinbase competitors either haven\u2019t entered the US or moved out because of our regulatory system. Coinbase has stayed to fight. We think they\u2019ll be rewarded accordingly.\u201d Cathie Wood\u2019s ARK had bought $21.6 million worth of Coinbase\u2019s stock in early June, just immediately after the SEC filed a lawsuit against the crypto exchange. Featured image from ETF Stream, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":544843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8861,428,1119,55016,1393],"class_list":["post-544827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ark-invest","tag-bitcoin","tag-btc","tag-cathie-wood","tag-coinbase"],"acf":[],"yoast_head":"\nBitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood<\/title>\n<meta name=\"description\" content=\"ARK Invest CEO and crypto proponent Cathie Wood says that Bitcoin is set to grow massively as a store of value following the recent bank collapses. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood","url":"http:\/\/wncen.com\/news\/bitcoin-set-to-accelerate-as-store-of-value\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-set-to-accelerate-as-store-of-value\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Cathie-Wood-Bitcoin.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Cathie-Wood-Bitcoin.png?fit=2000%2C1335"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ark invest","bitcoin","btc","cathie wood","coinbase"],"dateCreated":"2023-07-28T12:00:45Z","datePublished":"2023-07-28T12:00:45Z","dateModified":"2024-06-11T08:10:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Set To Accelerate As A Store Of Value In Wake Of Bank Collapses, Cathie Wood\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-set-to-accelerate-as-store-of-value\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-set-to-accelerate-as-store-of-value\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Cathie-Wood-Bitcoin.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Cathie-Wood-Bitcoin.png?fit=2000%2C1335\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ark invest\",\"bitcoin\",\"btc\",\"cathie wood\",\"coinbase\"],\"dateCreated\":\"2023-07-28T12:00:45Z\",\"datePublished\":\"2023-07-28T12:00:45Z\",\"dateModified\":\"2024-06-11T08:10:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Cathie-Wood-Bitcoin.png?fit=2000%2C1335","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544827"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=544827"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/544843"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=544827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=544827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=544827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}