Cathie Wood: Bitcoin ETFs are not the only reason for the skyrocketing price of Bitcoin
2024-04-03 15:17:15
In an interview shared online by CNBC on April 3rd, Cathie Wood, CEO of ARK Invest, described BTC as a type of venture capital and risk averse investment. The US spot Bitcoin ETF may have driven the mainstream narrative around Bitcoin in 2024, and Cathie Wood believes that the depreciation of fiat currency is another key factor. Cathie Wood also mentioned the performance of currencies such as the Nigerian naira and Egyptian pound in recent months, both of which have depreciated by about half against the US dollar, mainly due to deliberate government intervention rather than direct market forces.
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