Ark Invest Founder Cathie Wood: Bitcoin Is Better Than Gold And Cash For Long-Term Investment

Cathie Wood founder Ark Invest believes in the future of Bitcoin. (Photo; Doc. Cointimes)

JAKARTA - Cathie Wood, CEO and founder of Ark Invest, one of the world's leading investment companies, affirms his confidence in bitcoin (BTC) as a long-term investment asset.

In a podcast on Bloomberg, Wood says that he prefers bitcoin over gold and cash if he has to choose one asset to keep for the next ten years.

He also revealed that bitcoin is a hedge against inflation, while gold only has a saturated demand. He also said that bitcoin is digital and decentralized, so it doesn't have the risk of bankruptcy like regional banks. Wood considered that bitcoin has the potential to reach 500,000 US dollars (Rp7.8 billion) within five years.

Wood also talked about the metaverse, a virtual world concept connected to the real world. He predicts that the metaverse will develop into a trillions-dollar arena in the same year.

Furthermore, he said that Ark Invest is interested in companies engaged in artificial intelligence (AI) and blockchain technology, which is the foundation of the metaverse.

One of the companies in the spotlight of Wood is Tesla, led by Elon Musk, a bitcoin supporter. Wood said that Tesla is actually an AI company that also makes electric cars.

He said that Tesla has a competitive advantage in terms of data, software and batteries. He also said that Tesla has a vision to create autonomous cars that can share resources and income.

Wood is one of the most optimistic investors on bitcoin and related technology. He said that Ark Invest aims to educate investors about bitcoin potential and other cryptocurrencies. He said that institutions are barely involved in the crypto market, and that the younger generation prefers to hold bitcoin rather than gold.