Cathie Wood, CEO of Ark Invest, recently praised Bitcoin as a crucial tool for emerging markets, labeling it a “financial super highway.” Speaking at the Bitcoin Investor Day in New York, Wood highlighted the significance of Bitcoin in countries facing currency depreciation, like Nigeria. Her comments come as Ark Invest launches ARKB, a successful Bitcoin ETF aimed at these markets. Amid global economic tensions, exacerbated by the U.S. Federal Reserve’s rate hikes, Wood sees Bitcoin playing a dual role as both a risk-off and risk-on asset. Despite the uncertainty, she remains optimistic about Bitcoin’s potential, suggesting its value could soar past $3.5 million without setting a firm target. Her optimism is bolstered by the increasing institutional interest in Bitcoin, reinforcing her previous $1.5 million valuation. Wood’s insights reflect a strong belief in Bitcoin’s future, especially as an asset in emerging economies.

Source