Bitcoin, Ether are ‘like gold’ says Cathie Wood, but Ray Dalio is skeptical
Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isnt sold. Wood explained in an April 15 interview that Bitcoins resilience throughout the most recent banking crisis has been “the most remarkable” of all indicators her tech-focused investment management firm is monitoring. Bitcoin and Ether are now acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty, she claimed: “They‘re going to disrupt the traditional world order. What are Bitcoin and Ether doing？ I mean by the very fact that they’re being considered flight to safety like gold, thats really interesting and suggests much broader-based adoption and acceptance than I think most people understand.” “We would say that there is a flight to safety, certainly led by crypto assets, and it is telling us that the world is transforming and will continue to transform. You cannot stop innovation,” she added. Why have bitcoin and other crypto assets appreciated during this banking crisis？ In our view and in contrast to those in the traditional financial world, many crypto assets face