ARK Invest CEO Cathie Wood expressed optimism about Bitcoin's future at the Bitcoin Brainstorm event on January 8. She highlighted that if Bitcoin's current price pullback remains around 30%, as opposed to previous declines of 50%-70%, it would indicate reduced volatility and signal success. Wood also noted that while stablecoins are increasingly fulfilling Bitcoin's original "insurance" role, Bitcoin's status as "digital gold" is reinforced by rising gold prices. Wood emphasized that if the U.S. government transitions from holding seized Bitcoin to actively purchasing it for strategic reserves, it would significantly enhance Bitcoin's scarcity value. This potential shift in U.S. policy underpins her positive outlook on Bitcoin's long-term prospects.
Cathie Wood: U.S. Bitcoin Purchases Could Boost Scarcity Value
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