☑️NEW ARK Invest CEO sees Bitcoin as a hedge against currency devaluation

[FXOcrypto]

The price of Bitcoin is currently rising at around $71k, the surge in Bitcoin prices was driven by positive sentiment. The inflow of $646 million into cryptocurrency investment products last week raised the total to an unprecedented $13.8 billion this year.

ARK Invest CEO Cathie Wood sees Bitcoin as a hedge against currency devaluation and wealth erosion.

"I think this is an insurance policy against rogue regimes or against bad fiscal and monetary policies," he explained, as quoted by Bitcoin News.

According to him, the spike in Bitcoin prices was not only due to the impact of funds in the Bitcoin ETF exchange, but also due to currency devaluation, such as what happened in Nigeria, where the Naira fell 50-60% in 9 months, Argentina and Egypt, which also experienced devaluation.

Bitcoin price today appears to rise again forming a bullish candlestick with lows of $ 69,110.5 and 72,710.8.

 

[Riberet19]

I still wait to see what will happen after the halving, I don't see Bitcoin as an insurance policy, since it was not created with the intention of being a financial asset but to be a real alternative to fiat and a currency that had no central issuer or was controlled by anyone, but these players are already capable of manipulating Bitcoin a bit.

 

[FXOcrypto]

The high volatility of Bitcoin prices is indeed vulnerable to risks and potential gains, the influence of learning from past events can be long-term. Bitcoin seems to still be hard to cross the $72k level and today fell again to the $68k range.