Opinion: More companies will invest in Bitcoin to hedge inflation risk

ARK Investment Management CEO Cathie Wood says that in the future more technology companies will hold part of their reserves in Bitcoin. She said this in an interview with Yahoo Finance.

According to Wood, large companies plan to follow Square’s lead and begin investing in Bitcoin to hedge inflation risk.

“I think more and more companies will turn to this type of hedging, reflecting it on their balance sheets. Especially technology companies that understand this and are comfortable with cryptocurrencies,” said the head of ARK Investment.

COVID-19, the Fed’s printing press and uncertainty: why it’s the right time to pay attention to Bitcoin

As reported by the Bank of Singapore, Bitcoin can compete with gold as a store of value.

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