Cathie Wood Picks Bitcoin as Next Safe Haven Asset as Traders Back Bitcoin Minetrix ICO
ARK Invest CEO Cathie Wood has set her sights on Bitcoin as the next viable, safe haven asset for investors.
In a recent chat with ARK Chief Futurist Brett Winton, Wood pointed to Bitcoins resilience as one of the key reasons why she believes it can be classed as digital gold.
With traders also rushing to back the Bitcoin Minetrix (BTCMTX) ICO, the crypto market could be witnessing a shift in sentiment.
Cathie Wood Hints That BTC Could Be a Safe Haven Asset in Recent Interview
Cathie Woods recent appearance on ARK Invests In The Know YouTube series gave further insight into her perspective on Bitcoins potential as a modern-day safe haven asset.
When asked about the growing narrative of Bitcoin as digital gold by Brett Winton, Wood pointed to Bitcoins historical price appreciation during times of broader market uncertainty.
Specifically, Wood highlighted Bitcoins performance during last years regional banks crisis, where the coin shot up 40% while markets were in turmoil.
As she noted, the ability of Bitcoin to act as a shelter from volatility could give it similar attributes to gold.
However, Wood also acknowledged Bitcoins higher volatility relative to traditional asset classes.
Overall, while Wood believes we are now seeing a substitution into Bitcoin, she remains cautious about going all-in on the coin.
Regardless, her reference to Bitcoins ability to weather market storms provides credibility to the view that it could be a safe-haven asset class for modern investors.
Bitcoins History as Potential Shelter from Market Volatility
While Cathie Woods recent comments point to a growing acknowledgment of Bitcoins potential as a store of value, the narrative of BTC as a safe haven asset has been building for years.
In 2020, researchers highlighted Bitcoins similarities to gold, focusing on the coins capped supply and its resistance to inflation.
A paper from Klein et al. in 2018 also hinted at Bitcoins safe haven status by highlighting the coins positive price performance during the stock market crash that accompanied the beginning of the COVID-19 pandemic.
Some crypto analysts have even suggested Bitcoin could be a superior version of gold in the digital era due to its easier transportability and divisibility.
These potential advantages have attracted institutional interest, with firms like AllianceBernstein noting Bitcoins strong returns during times of global crisis.
So, while Cathie Woods comments this week have brought more attention to Bitcoins potential as a safe haven asset, the foundations for this viewpoint have been in place for years.
Bitcoin Minetrix Brings in New Era of Crypto Mining & Raises $10.3m in Presale ICO
As interest in Bitcoin as a digital safe haven asset continues gaining steam, buzz is also building in the cryptocurrency presale space.
Bitcoin Minetrix, a platform offering no-hassle BTC mining rewards through a Stake-to-Mine model, has gained massive traction since the start of the projects ICO.
Having already raised over $10.3 million from early backers, Bitcoin Minetrix seems poised to capitalize on the growth in the crypto-mining sector.
By allowing users to stake their BTCMTX tokens to earn Bitcoin without direct mining experience, Bitcoin Minetrix allows anyone to earn BTC rewards regardless of their financial resources.
This aligns with the broader trend of simplifying crypto investing for mainstream audiences since the launch of spot Bitcoin ETFs in January.
As such, several prominent YouTubers have begun highlighting Bitcoin Minetrix in their videos, discussing the project in glowing terms.
For example, Connor Kenny released a video to his 178,000 subscribers discussing the projects Stake-to-Mine feature and how it mines BTC for you.
Fellow YouTuber ClayBro also mentioned Bitcoin Minetrix in a recent video upload, stating it could be the easiest way to mine Bitcoin.
While volatility is likely to remain present in 2024, those searching for streamlined crypto-mining opportunities may find promise in Bitcoin Minetrixs early success.
Visit Bitcoin Minetrix Presale
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