Cathy Wood, CEO of ARK Invest, has said in an interview with Yahoo Finance that BTC is the best form of protection against loss of wealth and an insurance policy for developing countries.
According to her:
“Around the world, we are seeing hyperinflation as fiat currencies crash. All populations need a fallback — an insurance policy like bitcoin.”
She believes that all segments of the population, both the poor and the wealthy, will benefit from the use of digital gold.
She has pointed to the possibility (regarding the latter) of protecting wealth through Bitcoin from confiscation in jurisdictions like China or Russia. The user can always restore access to the cryptocurrency using a seed phrase.
