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The Federal Reserve's interest rate cut bets ease, and the US dollar index faces resistance after consecutive flat closes

The Federal Reserve's interest rate cut bets ease, and the US dollar index faces resistance after consecutive flat closes

2024/01/19 04:55
BTC+1.19%ARK-0.39%
According to Decrypt, Cathie Wood, the founder and CEO of ARK Investment Management, said she believes that Bitcoin will one day be worth $1 million - just not anytime soon. In an interview with Brazilian financial news portal Infomoney, she expressed her consistent optimism about Bitcoin. She e xplained: "Gold is a trillion-dollar asset, and we believe Bitcoin can also get a piece of it." Wood said this comparison is not only in value but fundamentally reflects the role that Bitcoin can play as a decentralized and private alternative to traditional currency.
 
Wood added that she also sees Bitcoin as a tool for individuals and institutions to hedge against unstable currencies and fiscal policies, playing a crucial role in emerging markets. She pointed out that the scope of application for Bitcoin is very broad. It represents a new era in finance - the first global, digitalized and decentralized currency system. This is groundbreaking development especially considering the closure of America's gold window in 1971.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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