Cathie Woods, the CEO of Ark Invest, has claimed that she is not fazed by the latest price correction of the flagship cryptocurrency. Speaking on the CNBC talk show, Squawk Box Woods claimed on behalf of her company that bullish sentiment for Bitcoin is far from over. It is worth noting that during the last seven days, the Bitcoin market value has declined by 2.24%.
Woods further explained that the technical details of the Bitcoin working method make it a worthwhile investment option for the financial organization. She is known in the financial industry for her interest in disruptive technology and risky investment ventures. She also added that Bitcoin is not a hedge against inflation but also a new monetary system base.
At present, a considerable number of financial investors and retail consumers are worried about the increasing inflation in the United States. The major cause of this inflation is the printing of money and the constant deflation of the economy. However, Woods claimed that the ongoing rise in inflation is only temporary.
She further added that according to the data analysis by her organization, the effects of inflation are going to even out soon enough. She further explained that during this time, Bitcoin would assist a counterparty risk manager. She claimed that the top coin would also work as a protective layer against inflation confiscation when the economy is rebooted.
Investment Hedge against Inflation
The CEO of Ark Invest has issued a positive stance towards Bitcoin. She told the media that despite all changes in the market, Bitcoin is going to retain its status as the best and the first trust-based payments options for conducting private transactions. She further explained that due to the quality of Bitcoin, it is going to protect the economy from following the trend of collapse during 2008 and 2009.
Journalist asked her if the current market period is a great Bitcoin accumulation bracket. She claimed that it is not right to give financial advice to people. However, she added that on-chain analysis has declared that there is a considerable amount of positive development in the market rather than further depreciation of price for BTC.