Cathie Wood, CEO of Ark Invest and a big supporter of Bitcoin, believes that Bitcoin can grow in value over time for the simple reason that more and more companies will take it to their balance sheets as an investment and as a hedge against inflation. However, with such volatility in the market, risk-averse investors are still hesitant to buy Bitcoin, let alone any other cryptocurrency. As with any investment, do your due diligence and don't place all your hopes on a company or a cryptocurrency. Some investors choose stocks for long-term wealth creation and retirement while trading forex for more immediate returns or speculating on cryptocurrencies.
Ark Invest CEO Cathie Wood describes Bitcoin as a “rules-based monetary system,” as Bitcoin's monetary policy is set by the parameters of the code. Given that bitcoin is currently in an uptrend, it is the perfect time to ask yourself if it is worth buying it, even at a higher price. Always ensure that your financial bases are covered from your retirement accounts to emergency savings before investing extra money in a speculative asset like Bitcoin. Bitcoin's overwhelming performance as a currency and investment has attracted traditional and institutional investors alike.
You maintain full control of your account and can take over the transaction or stop copying a trader at any time. All cryptocurrencies are high-risk investments, but by researching and choosing your investments wisely, you can limit your risk as much as possible. These are very bullish developments for the crypto space in general, as banking has long been an important Achilles heel for cryptocurrency investors and companies. Keep in mind that for many people around the world it is still very difficult to buy Bitcoin due to the laws of their countries, banking obstacles, etc.