ARK Investment Management chief Katie Wood believes that in the future, more tech companies will store part of their reserves in bitcoin. She stated this in an interview with Yahoo Finance.
Big companies plan to follow Square’s lead and start investing in the first cryptocurrency to hedge inflation risks, Wood said.
“I think more and more companies will start using this type of hedging, reflecting it in the balance sheet. Especially technology companies that understand this and are comfortable with cryptocurrencies, ”added the head of ARK Investment.
COVID-19, Fed Printing Press and Uncertainty: Why It’s Time to Pay Attention to Bitcoin
Recall that the Bank of Singapore said that bitcoin can compete with gold as a store of value.
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